Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.
Writing for the Journal of International Banking & Financial Law, Head of Leveraged Finance, Matthew Ayre, and Senior Associate, Jason Larkins, take a look at the key features of recurring revenue transactions in the UK and European markets, including who they are for, how they work and evolving trends.
Funds and Secondaries Partner Sacha Gofton-Salmond and Finance Partner Katie McMenamin have produced an article for Professional Investor discussing the evolution of the GP-led market. You can read the full article below.
Travers Smith has advised longstanding client Inflexion on its investment in SteriPack Group, a market-leading global contract manufacturer serving the medical device, pharmaceutical and diagnostic markets.
Travers Smith LLP has advised longstanding client Livingbridge on its acquisition of the CitNOW Group ("CitNOW"), a global provider of front-office software to the automotive retail industry, from Tenzing Private Equity and other management shareholders. Tenzing will reinvest materially alongside Livingbridge.
Travers Smith LLP has advised Quilvest Capital Partners (Quilvest) and management shareholders on the sale of Phaidon International (Phaidon) to a global investor consortium led by private equity firm Further Global.
Travers Smith LLP has advised its long-standing client Ancala Partners LLP (Ancala), the critical mid-market infrastructure investor, on the proposed €136.2 million acquisition of aerial emergency services businesses from Babcock International Group plc (Babcock) in Italy, Spain, Portugal, Norway, Sweden, Finland and Mozambique.
Travers Smith LLP has advised an investment vehicle backed by client Epiris on its acquisition of Sepura.
The Insolvency Service has recently published its interim report (the "Report") which considers the three permanent measures that were introduced pursuant to the Corporate Insolvency and Governance Act 2020 ("CIGA"). For further details on the temporary and permanent measures introduced pursuant to CIGA, see our previous update.
Travers Smith LLP has advised longstanding client Equistone Partners Europe Limited ("Equistone") on its investment into Talon Outdoor.
Travers Smith LLP has advised an investment vehicle backed by longstanding client Bridgepoint Development Capital ("BDC") on its investment in Analysys Mason. Management shareholders are re-investing alongside BDC which is being acquired from Datatec, a company listed on the Johannesburg Stock Exchange.
Travers Smith LLP has advised longstanding client Equistone Partners Europe Limited ("Equistone") and other selling shareholders on the sale of OneOcean Group Limited ("OneOcean"), one of the largest global suppliers of voyage solutions in the maritime industry, to Lloyd's Register.
Travers Smith has advised Quilam Capital on the provision of a new significant committed debt facility to Perch Group, a Blackpool-headquartered specialist credit and asset management company.
Travers Smith LLP has advised longstanding client Graphite Capital and management shareholders on the sale of Random42, a leading provider of scientific animation and digital media services, to The Lockwood Group, a portfolio company of Ares Management.
Travers Smith advised BDC on the carve-out of HKA from Hill International in 2017 and HKA has seen significant growth under BDC's ownership.
Travers Smith has advised Phoenix Equity Partners, LDC and senior management shareholders on the sale of Forest Holidays to Sykes Holiday Cottages (a Vitruvian Partners company)
Travers Smith LLP has advised Atalaya Capital Management (Atalaya) on the provision of an up to £120 million revolving credit facility to TAB, a specialist real estate finance provider.
Finance Partner, Ben Thompson, has authored a chapter titled, ‘Core-Plus Infrastructure and Leveraged Financing: The Continued Convergence of Terms’, in the latest edition of 'The International Comparative Legal Guide - Lending & Secured Finance 2022'.
Travers Smith LLP has advised long-standing client Inflexion on the separate acquisition financings of Astrak, a European specialist distributor of parts for construction equipment and enviolo, a specialist in the e-bike components market.
As outlined in our previous briefing note on the Corporate Insolvency and Governance Act 2020, a new restructuring tool was introduced in June 2020 in the form of the Part A1 free-standing moratorium (the "Moratorium"). The Moratorium was introduced with the intention of providing companies in financial distress breathing space to allow them to explore restructuring options whilst being protected from the majority of creditor action, similar to the protection afforded to a company in administration. A feature of the Moratorium is the appointment of an independent monitor.