Addleshaw Goddard and Latham & Watkins have advised on the £350m buyout of greeting cards chain Card Factory by Charterhouse Capital Partners.

Addleshaws advised Card Factory on the buyout of the Wakefield-based business, which boasts some 480 shops across the UK and employs around 4,500 staff.

Charterhouse instructed Latham after reportedly beating buyout rivals Permira, Cinven and Warburg Pincus to seal the multimillion-pound deal.

The Addleshaws team was led by Leeds-based corporate partner Yunus Seedat along with corporate partner Garry Elliott and associates Nicola Dunn and Jennifer Harwood.

The Latham team advising Charterhouse was headed up by corporate partner Mike Bond alongside tax partner Sean Finn, with associates Sarah Dunkley and Catherine Drinnan providing employment advice.

Seedat told Legal Week: "From the start of 2010 we have seen the market improving across a range of deals – M&A, private equity and restructurings. The pleasing thing for us is that we have been involved in all of the major Yorkshire corporate transactions so far this year, and that January's strong work pipeline has actually translated into completed deals worth in excess of £750m. Private equity houses are now prepared to wholly fund transactions, dealing with raising debt afterwards, and this is having a real impact on the market."

Card Factory was set up by husband and wife team Dean and Janet Hoyle in 1997 and is expected to report a profit of £210m for last year. Dean Hoyle is also chairman of Huddersfield Town Football Club having bought out the remaining shareholders in March 2010.