Travers Smith LLP has advised the Azzurri group on a significant upsizing of their senior debt facilities, which included the addition of £45m of new commitments to refinance existing shareholder debt accompanied by a substantial term-out of amortising senior facilities.
The Azzurri Group is a market leader in the Italian casual dining sector, operating ASK Italian, Zizzi, Coco di Mama and Radio Alice. The group employs nearly 6,000 people and operates over 250 restaurants and shops.
Azzurri is majority-owned by Bridgepoint (since January 2015), together with other institutional investors and management.
A Travers Smith cross-departmental team was led by finance partner Barry Newman, supported by finance associates Lucy Monroe and Taggio Price. Corporate advice was provided by private equity partner Ian Shawyer and corporate associate Sally Hirst. Specialist tax advice was provided by head of tax Simon Skinner and tax associate Camilla Woodall.