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Travers Smith LLP has advised long standing client TA Associates (“TA”), a leading global growth private equity firm, on the acquisition of a 33% stake in W.A.G. Payment Solutions AS (“WAG”), the Czech Republic based operator of payment solutions for passenger and freight carriers.
Travers Smith LLP has advised existing client, the Carlyle Europe Technology Partners III fund, on the secondary buyout of TestPlant Limited, a leading international provider of functional network and performance test automation software.
Travers Smith LLP has advised existing client, DP World (owner of The Peninsular and Oriental Steam Navigation Company) on the extension of a licence agreement for DP World Southampton with Associated British Ports (“ABP”). The licence agreement for the 86 hectare terminal will last 31 years until 2047.
Travers Smith has advised Royal Vopak on the pensions and employment aspects of Royal Vopak’s sale of all of its UK assets to Macquarie Capital and Greenergy. Macquarie Capital will acquire 100% of the shares of the three wholly-owned terminals: Vopak Terminal London, Vopak Terminal Teesside and Vopak Terminal Windmill, to become part of Navigator Terminals.
Travers Smith LLP has advised longstanding client Liberum Capital Limited as placing agent and sole bookrunner on the £100 million IPO of Honeycomb Investment Trust plc.
Travers Smith LLP has advised long standing client Equistone Partners Europe and all other selling shareholders on the sale of Audley Travel, a leading provider of tailor-made experiential travel, to 3i Group plc.
Potentially significant increases to fines are expected, as Courts are told to impose sentences that have a “real economic impact” on offenders.
Travers Smith partner Adrian West, senior counsel Mohammed Senouci and associate Ben Hanglin have advised finnCap Limited as nominated adviser, joint bookrunner and underwriter and Liberum Capital Limited as joint bookrunner and underwriter to CityFibre Infrastructure Holdings plc on CityFibre's £80 million placing and re-admission to trading on AIM in connection with its £90m acquisition of dark fibre assets from KCOM Group plc.
Travers Smith LLP has acted for international animal health and biotechnology business Benchmark Holdings plc on the £227 million acquisition of INVE Aquaculture Holding, a leading specialist manufacturer of aquaculture and nutrition health products. The firm has also advised on the associated equity fundraising, debt financing and employee incentives arrangements.
Travers Smith LLP has acted on the acquisition of Everyday Loans Holdings Limited, a branch based non-standard consumer lending business, by Non-Standard Finance plc (NSF) from Secure Trust Bank plc, the retail bank of Arbuthnot Banking Group. Travers Smith advised long-standing clients The Royal Bank of Scotland plc and Shawbrook Bank Limited, who (in conjunction with Secure Trust Bank plc) will provide debt facilities to certain members of the NSF Group as part of the acquisition.
Travers Smith has advised the management team of LGC ("Management") on the sale of LGC to, and new shareholder arrangements with, KKR.
Travers Smith LLP has advised Bridgepoint Development Capital and management shareholders on the sale of Quotient Clinical (“Quotient”), a provider of outsourced, early-stage drug development services to the global pharmaceutical industry, to GHO Capital (“GHO”) for an undisclosed sum.
Travers Smith LLP has acted for founders of Aviate Global LLP, a global institutional equity brokerage, on its sale to Northern Trust.
Travers Smith has advised longstanding client, the management team of the RAC Group ("Management"), in relation to the partnership entered into by funds advised by CVC and GIC, Singapore's sovereign wealth fund. CVC will become a co-shareholder in the RAC through the purchase of Carlyle's stake.
Travers Smith LLP has advised long standing client Silverfleet Capital and all other selling shareholders on the sale of footwear retailer Office Retail Group ("Office") to Truworths International ("Truworths") for approximately £256 million.
Two recent cases have highlighted the dangers of so-called service level "ambushes" in relation to outsourcing contracts and similar agreements.
Travers Smith corporate partner Richard Spedding has advised Peel Hunt in its capacity as sponsor, corporate broker and joint financial adviser to NCC Group plc, in connection with the £126.3 million firm placing and placing & open offer by NCC Group plc.
A Travers Smith team led by Head of Private Equity Paul Dolman has advised long standing client TA Associates (“TA”), a leading global growth private equity firm, on the sale of CMOSIS, the Belgian image sensor company, to ams AG (“AMS”), the sensor and analog solutions company, for €220 million.
As indicated in our briefing on penalty clauses in June, the El Makdessi and ParkingEye cases have been reviewed by the Supreme Court, which has now given an important ruling aimed at clarifying the law.
Under new rules, which have just come into force, large organisations operating within the United Kingdom will now need to make a public statement outlining how they keep their supply chains free from slavery and human trafficking.