Slaughters, Latham, Sullivan & Freshfields touch down on $2.1bn aviation deal
Heavyweight UK and US firms line up on BBA Aviation's acquisition of Landmark Aviation from the Carlyle Group
September 24, 2015 at 01:03 PM
2 minute read
Slaughter and May, Sullivan & Cromwell, Latham & Watkins and Freshfields Bruckhaus Deringer have won mandates on BBA Aviation's acquisition of Landmark Aviation from the Carlyle Group for $2.1bn (£1.35bn).
Landmark provides maintenance and repair services for private aircraft.
BBA is funding the acquisition through a £748m rights issue and debt facilities.
Slaughter and May and Sullivan & Cromwell are acting for BBA Aviation. Slaughter's corporate head Andy Ryde is leading on the acquisition and equity side of the deal. Finance partner Azadeh Nassiri is leading on debt matters while partner Anna Lyle-Smythe is advising on competition.
Sullivan & Cromwell's team is being led by the firm's private equity co-head George Sampas and corporate partner Melissa Sawyer in New York. London partners Chris Beatty and John O'Connor are advising on the debt and equity financing respectively. New York partner Steven Holley is advising on antitrust.
Latham is acting for Carlyle and Landmark. Latham's transatlantic team is being led by corporate partners Paul Sheridan, Shaun Hartley and Claire Keast-Butler in Washington DC, Chicago and London respectively. Partners Jeffrey Chenard and Scott Forchheimer in Washington DC and Dominic Newcomb in London are advising on finance matters, partner David Raab in New York is advising on tax and partners Adam Kestenbaum in Washington DC and Catherine Drinnan in London on employee benefits.
Jones Day is advising Carlyle on antitrust issues. Its Washington D.C. team is being led by the firm's antitrust head David Wales.
Freshfields Bruckhaus Deringer is advising JP Morgan Cazenove, Jefferies International, Barclays Bank and HSBC Bank, the underwriters for BBA Aviation's rights issue. London-based Freshfields capital markets partners Mark Austin and New York-qualified Doug Smith are leading the firm's team on the deal.
Latham lawyers have long-standing connections with Carlyle. In 2014 it hired funds lawyer Tom Alabaster from the private equity firm, he joined the firm's London office as a partner.
Additionally, Latham hired Clifford Chance's Carlyle relationship partner David Walker in 2013. He was followed to Latham by partners Tom Evans and Kem Ihenacho who had also worked on deals for Carlyle.
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