Press releases | Private Equity & Financial Sponsors, IP & Technology, Commercial & Technology | 16 Jul 2015

Bridgepoint management buyout of Appleby Fiduciary & Administration business

Overview

A Travers Smith team led by Head of Private Equity Paul Dolman and private equity partner Ian Shawyer has advised long standing client Bridgepoint on the primary management buyout of the Appleby Fiduciary & Administration Business (“AFB”) from the Appleby Group for an undisclosed sum.

ABF is a multi-jurisdictional business which provides trust and corporate services to a wide range of clients across the globe, administering over 10,000 structures for almost 6000 clients from nine locations. The business has three core service lines: Corporate Administration, Trust Administration and Fund Services.

Paul Dolman, who advised Bridgepoint on the acquisition, was assisted by associates Genevieve Marten, Ian Keefe and Leah Carson Ian Shawyer, who advised Bridgepoint on the new equity arrangements, was assisted by associates Joanna Roberts and Sarah Butler. Commercial, IP & Technology partner Richard Brown also played a key role in a transaction advising Bridgepoint on the separation arrangements of AFB from the Appleby Group.

This investment was made by Bridgepoint’s €4 billion Bridgepoint Europe V buyout fund. Completion of the transaction is subject to certain conditions, including regulatory and legal approvals.

Paul Dolman commented: “We are delighted to have been asked to advise Bridgepoint on a second acquisition for Bridgepoint Europe V. This transaction was incredibly interesting to work on and presented us with a variety of complex issues to be resolved in the context of a competitive process and demanding timetable. ”

The Travers Smith team also included: Head of Finance Matthew Ayre and senior counsel Barry Newman; financial services & markets partner Phil Bartram and tax partner Simon Skinner.

Bridgepoint’s other advisers included: KPMG / Wyvern Partners (Corporate Finance), Stikeman Elliott (Commercial / Regulation ), KPMG (Accounting, Tax/Structuring),  Intuitus (IT) and Marsh (Insurance).