Addleshaw Goddard and Slaughter and May have picked up the prime legal roles on private equity house Inflexion's acquisition of leading legal ranking company Chambers and Partners.

The deal will see Chambers' founder Michael Chambers leaving the business, with Mark Wyatt returning to the company to take over as chief executive. Wyatt, who co-founded Legal Week, was previously managing director of Chambers between 2014 and 2015 before going on to become chair of legal tech company Minisoft.

Addleshaws is advising mid-market buyout house Inflexion, with Manchester private equity partner Andrew Green at the helm. Slaughters is acting for Chambers with a team led by corporate partner Nigel Boardman, real estate partner John Nevin and tax partner Dominic Robertson.

Commenting on the deal, Wyatt said: "Inflexion is the perfect partner to support the business and our team on the next stage of our journey. Inflexion's international presence is well suited to our expansion plans, particularly with their Asia and US experience. Additionally, their digital focus will be invaluable as we drive our online presence forward."

Chambers was founded by Michael Chambers in 1990 and ranks lawyers and law firms across 185 jurisdictions, based on research carried out by more than 170 editors and researchers.

Following the deal, Steve Halbert, current chairman of Inflexion portfolio company Alcumus and former head of UK M&A at KPMG, will become chair of the business.

Both Addleshaws and Slaughters are currently acting on the collapse of construction company Carillion.

Addleshaws is acting for J Murphy & Sons on the purchase of Carillion's UK power framework business, while Slaughters is advising Carillion on negotiations between the company's directors and lenders.

The magic circle firm is a longstanding member of the company's legal panel and received £1.2m from Carillion days before the before the contractor collapsed into liquidation this January, according to figures released by the official receiver.