Links, Travers and DLA lead on David Lloyd Leisure sale
Linklaters, DLA Piper and Travers Smith have taken the lead roles on the sale of David Lloyd Leisure to private equity group TDR Capital for a reported value of £750m. Linklaters advised TDR on M&A aspects of the deal, with a team led by corporate partner David Holdsworth. DLA Piper took the lead role for David Lloyd Leisure Operations Holdings, with corporate partner Ed Griffiths heading up the firm's team. The company is jointly owned by private equity firm Caird Capital and London & Regional Holdings Limited. Travers private equity partner Paul Dolman advised David Lloyd's management.
September 12, 2013 at 07:03 PM
2 minute read
Firms take top roles as TDR Capital buys leisure group for £750m
Linklaters, DLA Piper and Travers Smith have taken the lead roles on the sale of David Lloyd Leisure to private equity group TDR Capital for a reported value of £750m.
Linklaters advised TDR on M&A aspects of the deal, with a team led by corporate partner David Holdsworth.
DLA Piper took the lead role for David Lloyd Leisure Operations Holdings, with corporate partner Ed Griffiths heading up the firm's team. The company is jointly owned by private equity firm Caird Capital and London & Regional Holdings Limited. Travers private equity partner Paul Dolman advised David Lloyd's management.
The David Lloyd Group, which operates 80 clubs in the UK and a further 10 sites across Europe, was formed in 2007 in a deal that saw Whitbread sell its David Lloyd Leisure arm to Versaille – a buyout vehicle backed by private real estate outfit London & Regional Properties (L&R) and Bank of Scotland Corporate – for £925m.
Legacy Herbert Smith advised L&R on the deal while Slaughter and May acted for Whitbread, with DLA Piper taking the lead role for regular client Bank of Scotland Corporate.
TDR part-owns Gondola Holdings – the owner of the Pizza Express restaurant chain – and also has investments in Center Parcs.
Other firms to have worked with the private equity house in the past include Slaughters, Simpson Thacher & Bartlett and SJ Berwin.
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