DLA, CC and Travers win roles on £440m outsourcing company buyout
A raft of firms have landed roles on the £440m buyout of legal process outsourcing company CPA Global by private equity investor Intermediate Capital Group (ICG). DLA Piper advised CPA on the deal with a team led by UK corporate chief David Raff, alongside London corporate partner Kiran Sharma.
January 29, 2010 at 12:54 PM
2 minute read
A raft of firms have landed roles on the £440m buyout of legal process outsourcing company CPA Global by private equity investor Intermediate Capital Group (ICG).
DLA Piper advised CPA on the deal with a team led by UK corporate chief David Raff, alongside London corporate partner Kiran Sharma.
The deal, which was done under a scheme of arrangements, also saw offshore firm Ogier provide legal advice to CPA. The firm's team was headed up by corporate partner Raulin Amy and litigation partner Matthew Thompson.
ICG turned to City firm Travers Smith for advice for the first time, with corporate chief Chris Hale taking the lead role for the firm, assisted by finance partner Andrew Gregson and tax partner Kathleen Russ.
Carey Olsen provided Jersey advice, with corporate and finance partner Guy Coltman, litigation partner Robert Macrae and corporate partner Mike Jeffrey taking the lead roles.
Meanwhile, Clifford Chance is advising a consortium of banks including Lloyds Banking Group, HSBC, Bank of Ireland, Calyon, Bank of Scotland and Ares Capital Europe, which will provide £175m of bank and mezzanine loans and a £50m revolving credit facility.
London finance partner James Butters is leading for the firm.
Commenting on the deal, Hale said: "We know [ICG] well from their participation in a number of other transactions on which we have acted, and especially on one of the most challenging transactions seen in the private equity world for a long time, as well as one of the largest, in still difficult market conditions. The fact that it has been accomplished at all is good news for an increasingly robust private equity deal market."
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