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.
The Travers Smith team was led by private equity partner Ian Shawyer and tax partner Simon Skinner.
The existing management have invested in TestPlant alongside Carlyle Europe Technology Partners III fund, a Euro 657m Carlyle fund focused on European technology, media and telecommunications. Ian Shawyer and his team at Travers Smith have acted for Carlyle Europe Technology Partners on a number of transactions including, most recently, on the sale of The Foundry.
TestPlant was founded in 2008 by CEO George Mackintosh and Chairman Jon Richards and backed initially by venture capital firm, Seraphim Capital. It is headquartered in London with development centres in the USA and UK and sales and support centres in the USA, UK, Germany, China, India and Japan as well as a network of business partners. Its products are used in over 40 countries by over 350 enterprise customers in sectors spanning Financial Services, Automotive, Healthcare and Life Sciences, Media and Entertainment, Retail and Defence and Aerospace.
Andrew Rimmington of Mishcon De Reya LLP acted for the selling shareholders and management of TestPlant.
The deal value is confidential.