Travers Smith advises Premier Rugby Limited on a major investment by CVC Capital PartnersFriday, 22 March 2019
Thursday, 20 December 2018
Travers Smith LLP has advised Premier Rugby Limited (PRL), the top division of English rugby union, on a major investment by and landmark new partnership with the private equity firm CVC Capital Partners (CVC). CVC will acquire a minority shareholding in PRL.
PRL, the rugby league's holding company, is owned by 13 member clubs - the 12 sides in the Premiership and London Irish. The investment by CVC, whose sport credentials include a decade-long ownership of Formula One, is regarded as potentially the biggest step-change in club rugby since the game went professional 23 years ago.
The Travers Smith team was led by the firm's Senior Partner Chris Hale, who was assisted by Private Equity Senior Counsel Alex Dixon and Joanna Roberts, Private Equity Associate James Sherlock, Tax Partner Jess Kemp, Tax Senior Associate Tom Rickford and Tax Associate Katherine Williamson. The team advised PLR on a range of complex issues in relation to the corporate, tax and contractual aspects of the transaction.
CVC was represented by Freshfields Bruckhaus Deringer LLP on the deal.