Press releases | Private Equity & Financial Sponsors, Finance, Tax | 12 Jul 2019

Travers Smith advises Equistone Partners Europe on its investment in FirstPort

Overview

Travers Smith LLP has advised long-standing client Equistone Partners Europe (Equistone) on its agreement to acquire FirstPort, a leading UK residential property management company, from Epiris and Chamonix Private Equity (Chamonix).

The financial terms of the deal are undisclosed and completion of the transaction remains subject to approval by the Financial Conduct Authority.

FirstPort manages 196,000 residential properties across more than 3,900 developments throughout the UK. The company works with developers, investors, freeholders and over 200 Resident Management Companies to provide services to leaseholders. Under the ownership of Epiris and Chamonix, FirstPort brought in a new management team led by CEO Nigel Howell, instituted extensive improvements to customer service standards and reorganised and rebranded the company’s operations. The business employs more than 3,000 people.

The Travers Smith team was led by Private Equity & Financial Sponsors Partners James Renahan and Emma Havas, who were supported by Associates Becky Dove, Max Conway, Natasha Cheung and Oliver Murphy. Specialist advice was provided by Tax Partner Russell Warren supported by Senior Associate Tom Rickford and Finance Partner Andrew Gregson.