A Travers Smith team led by private equity partner Ian Shawyer has advised its long standing client The Carlyle Group on the sale of The Foundry for £200 million, in a secondary buy-out backed by Hg Capital.
The Travers Smith team advising The Carlyle Group also included corporate associates Joanna Roberts and Sarah Butler. Tax advice was provided by tax partner Simon Skinner and tax associate Richard Wild.
The Foundry is a global provider of award-winning creative software. Headquartered in London, the company has offices in Manchester, Los Angeles, Shanghai and Silicon Valley and employs 270 people across its network.
Following its initial investment in The Foundry in 2011, in the last four years The Carlyle Group has worked with The Foundry management team to transform the company from a pure visual effects software developer into a company supplying multiple creative industries such as product & industrial design, marketing & advertising and games. The company's revenues grew by over 160% during that period of time.
The group will continue to be led by Bill Collis, the CEO, and other members of the senior management team will also remain with the business.
Hg Capital was advised by White & Case.