Bagshaw completes first two deals for W&C since move from Links
White & Case private equity partner Ian Bagshaw has closed his first two deals for the firm this week, a month after his high-profile move with fellow Linklaters partner Richard Youle.
February 07, 2014 at 08:26 AM
2 minute read
White & Case private equity partner Ian Bagshaw has closed his first two deals for the firm this week, a month after his high-profile move with fellow Linklaters partner Richard Youle.
Bagshaw co-led a team advising Czech antivirus company Avast Software and a group of shareholders on the sale of a 40% stake to private equity firm CVC Capital Partners – a deal that values the company at $1bn (£612m).
White & Case also advised on the US borrower financing aspects of the deal, with Clifford Chance acting as main legal adviser to CVC on corporate matters.
The Avast deal team was co-led by Prague-based Avast relationship partner Michal Smrek, alongside partners Eric Berg and Justin Wagstaff in New York and Ales Zidek, Damian Beaven and Jiri Tomola in Prague.
The firm previously advised Avast in 2010 on an initial private equity investment by Summit Partners, which it again worked with on the stake sale this time round.
Bagshaw also co-led a White & Case team acting for Polish mobile phone operator Play, on its inaugural €870m (£722m) and PLN130m (£26m) dual-tranche high yield bond issue and credit facility.
Play is co-owned by Olympia Development and London based investment firm, Novator, a long-time client of the former Linklaters partner.
Also leading the team was capital markets partner Jill Concannon, alongside London partners Ross Allardice, Jeremy Duffy and Rob Matthews, Warsaw-based Marcin Studniarek and Rob Irving in Budapest.
The former Linklaters private equity co-head signed with White & Case last October, in one of the most eye-catching lateral moves of 2013.
"These two deals really highlight the key reasons for the move," Bagshaw told Legal Week.
"Alternative forms of financing will be key to the success of private equity, and US financing on European deal – in the case of Avast – and local financing and high yield bonds – in the case of Play – show we are really well placed to do the financing of any sponsor.
"That financing flexibility is at the top of the list of priorities for any private equity house looking at how they can get a deal done, and it's a capability that a lot of the non-US firms don't have."
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