Travers Smith LLP has advised long-standing client Silverfleet Capital, the Senior Management Team and other selling shareholders on the sale of Phase One, a leading international technology business specialising in high-end digital imaging software and equipment, to funds managed by Axcel.
Phase One has two divisions: Software Imaging Systems (“SIS”), which provides market leading raw image processing software to professional and amateur photographers and enterprises under the Capture One brand; and Image Capture Solutions (“ICS”), which supplies ultra-high-end, medium format camera systems for industrial applications (such as aerial mapping and inspection), as well as for professional and amateur photographers, and cultural heritage institutions. The Business is headquartered in Copenhagen, Denmark, with operations in Germany, Hong Kong, Israel, Japan and the US.
The Travers Smith team was led by Private Equity and Financial Sponsors Partner Will Yates and Associates Alistair Schaefer and Alex Watt. The team also included Head of Commercial, IP and Technology Dan Reavill, together with Tax Partner Russell Warren. Travers Smith acted alongside Danish counsel Bech-Bruun to deliver this cross-border transaction.
Axcel were advised by Ropes & Gray LLP (English counsel) and Moalem Weitemeyer Bendtsen (Danish counsel).
The transaction is subject to regulatory approval.