Experience

• Fund Formation

  • FitzWalter Capital in the formation of FitzWalter Capital Partners II, a c.$1.4 billion fund.
  • Mobilux in the offering of €250 million aggregate principal amount of 7.00% senior secured notes due 2030 and the concurrent upsize of a revolving credit facility from €139.5 million to €210.0 million.
  • Adenia Partners in the formation of Adenia Capital V, a $470 million fund targeting control investments in medium-sized companies across Africa.
  • ICG in the formation of ICG LP Secondaries I, a $1 billion fund specializing in acquiring buyout fund interests from limited partners.
  • Clayton, Dubilier & Rice in the formation of Clayton, Dubilier & Rice Fund XII, an approximately $26 billion fund, its largest fund to date.
  • LCM Partners in the formation of Credit Opportunities 4 Strategy, a €4.1 billion private credit fund.
  • Fifth Wall in the formation of its Real Estate Technology Fund III, an $866 million property technology fund aiming to invest in technologies relevant or complementary to the built environment.
  • Fifth Wall in the formation of its Early-Stage Climate Technology Fund, a $500 million venture capital fund that invests in climate change mitigation technologies aiming to decarbonize the real estate industry.
  • All Seas Capital in the formation of All Seas Capital I, a $400 million debut pan-European private fund.
  • FitzWalter Capital in the formation of FitzWalter Capital Partners I, its $920 million inaugural fund.
  • Fifth Wall in the formation of its European Real Estate Technology Fund, a €140 million fund targeting investments in high-potential European startups, and potential co-investing opportunities alongside Fifth Wall’s North American Real Estate Tech funds.
  • Development Partners International in the formation of African Development Partners III Fund, a $900 million fund investing in innovation-led companies in Africa.
  • Top Tier Capital Partners in the formation of Top Tier European Venture Capital Fund SCSp, a €260 million European venture capital fund of funds.
  • Clayton, Dubilier & Rice in the formation of Clayton, Dubilier & Rice Fund XI, a $16 billion North America and Western Europe fund.
  • AAC Capital Partners in its sale of a $1.5 billion investment portfolio to a group of investors led by Goldman Sachs Asset Management.
  • Akina in its European mid-market buyout funds of funds.
  • Apera Asset Management in the formation of its €750 million private debt platform, focussing on senior secured loans to lower mid-market businesses in German-speaking Europe, France, Benelux, the UK and Northern Europe.
  • Ares Management in the formation of Ares Europe Real Estate Fund IV, a $1.3 billion Europe real estate fund.
  • Aureos Capital in the formation of Aureos Latin America Fund, a $184 million Latin America buyout fund.
  • Baring Vostok in the formation of its Russian private equity funds, including Baring Vostok Private Equity Fund V, a $1.5 billion Russia, CIS buyout fund.
  • Clayton, Dubilier & Rice in the formation of Clayton, Dubilier & Rice Fund X, a $10 billion North America and Western Europe buyout fund.
  • DBAY Advisors in the formation of DouglasBay Capital III Fund, a European fund making investments in small and micro-cap listed companies.
  • Deutsche Bank in its secondary opportunities funds.
  • Exponent in a £125 million preferred equity facility for Exponent Private Equity Partners III, a £1 billion buyout fund.
  • Exponent Private Equity Partners in the formation of Exponent Private Equity Partners III, a £1 billion UK buyout fund.
  • GHO Capital Partners in the formation of GHO Capital Fund II, a €975 million fund which was Europe’s largest ever healthcare fund at the time of closing.
  • Glendower Capital in the formation of Glendower Capital Secondary Opportunities Fund IV, a $2.7 billion global secondary private equity fund.
  • LeapFrog Investments in the formation of LeapFrog Emerging Consumer Fund III, a $700 million emerging markets-focused impact fund.
  • Metric Capital Partners in the formation of MCP Private Capital Fund III, an €850 million European special opportunities fund.
  • Morgan Stanley Private Equity Asia in its Asian buyout funds.
  • Och-Ziff Capital Management in the formation of its private equity funds.
  • Park Square in the formation of its European mezzanine funds, including Park Square Capital Partners III, a €1.2 billion subordinated debt fund.
  • Park Square in the formation of its credit opportunities funds, including Park Square Capital Credit Opportunities II, a $2.4 billion senior debt programme.
  • Prosperity Capital Management in its open and closed-end funds investing in Russia/CIS.

• Mergers and Acquisitions

  • Clayton, Dubilier & Rice in the financing aspects of its bid for a controlling stake in Opella, the French-headquartered consumer healthcare company, valuing the company at c.€16 billion.
  • Coller Capital in multiple acquisitions of LP interests.
  • Clayton, Dubilier & Rice, as existing minority shareholder in SOCOTEC, in the acquisition of a minority stake in SOCOTEC by Mubadala Investment Company and Bpifrance.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisitions of Atalian and OCS to create a global facilities management platform.
  • Clayton, Dubilier & Rice in the sale of its investment in Belron, a worldwide leader in vehicle glass repair and replacement, valuing the company at €21 billion, including the formation of a new special purpose vehicle formed to continue CD&R’s partnership with Belron. The transaction was named “Secondaries Deal of the Year” by Buyouts magazine.
  • Clayton, Dubilier & Rice in financing aspects of its £7 billion recommended cash offer for Morrisons.
  • Clayton, Dubilier & Rice in its sale of a minority stake in Belron to Hellman & Friedman, BlackRock and GIC, which valued the company at €21 billion.
  • Clayton, Dubilier & Rice in the financing aspects of its $3.7 billion take-private acquisition of UDG Healthcare.
  • Clayton, Dubilier & Rice in its £308 million acquisition of Wolseley UK, a leading distributor of plumbing, heating and climate products.
  • Clayton, Dubilier & Rice in the financing and tax aspects of its £400 million acquisition of Huntsworth.
  • HarbourVest Partners and Pantheon as investors in 3i’s GP-led single asset fund restructuring, one of the largest-ever such transactions which involved moving Action, with a post-discount enterprise value of €10.25 billion, to a continuation vehicle.
  • A consortium of international secondaries fund sponsors led by Pantheon and Aberdeen Standard in a fund recapitalization involving the single-asset transfer of KD Pharma Group, a German vitamin supplement manufacturer, and related investment transaction.
  • Clayton, Dubilier & Rice in its investment in SOCOTEC Group, a leading global provider of testing, inspection and certification services focused on asset integrity.
  • Clayton, Dubilier & Rice in its acquisition of a controlling interest in Westbury Street, a leading independent contract caterer and hospitality services provider in the UK.
  • A leading secondaries fund sponsor in its acquisition of a portfolio of venture capital and private equity interests from a major European private equity manager.
  • Helios Investment Partners in fund arrangement aspects of the IPO on the London Stock Exchange of Vivo Energy, the company that distributes and markets Shell-branded fuels and lubricants to retail and commercial customers in Africa.
  • Motor Fuel Group in the financing and tax structuring of its £1.2 billion acquisition of MRH, the UK's largest petrol station and convenience retail operator.
  • Clayton, Dubilier & Rice in its acquisition of a 40% ownership interest in Belron, which valued the company at €3 billion.
  • Caisse de dépôt et placement du Québec in its investment in Datamars.
  • Helios Investment Partners in its sale of a minority stake in Interswitch to TA Associates. Helios Investment Partners remains the majority shareholder following the transaction.
  • Clayton, Dubilier & Rice in its $2.3 billion sale of Mauser Group, a leading global supplier of industrial rigid packaging products and reconditioning services, to Stone Canyon Industries.
  • HarbourVest Partners in its £806.6 million acquisition of the investment portfolio of SVG Capital, a publicly listed investment fund. The acquisition followed an initial £1,015 million takeover offer by HarbourVest Partners for SVG Capital. The deal has been recognized by various industry award schemes, including the PEI Awards and being named Private Equity Deal Of The Year at the IFLR European Awards.
  • HarbourVest Partners in its secondary acquisition of limited partnership interests from multiple sellers in funds managed by Indigo Capital Partners.
  • Clayton, Dubilier & Rice in the financing and certain other aspects of its acquisition of BUT, the largest furniture retailer network in France, in a 50:50 partnership with WM Holding, a company related to the XXXLutz Group.
  • Clayton, Dubilier & Rice in tax aspects of its acquisition of Kalle, and the related financing.
  • AltaOne Capital in its acquisition, with Silver Lake, of a 37.6% interest in Cegid Group, valuing the company at ‎€580 million.
  • HarbourVest Partners in its co-investment with IK Investment Partners in the Salad Signature group, a Dutch and Belgian food business.
  • Prudential Financial in its $350 million partnership with LeapFrog Investments, targeting investments in life insurance companies in Africa.
  • Dover Corporation in its €425 million acquisition of Tokheim Group’s dispensers and systems businesses.
  • Nereus Capital in its joint venture with Hareon Solar and Treasury Group to invest in solar projects in India.
  • Clayton, Dubilier & Rice in tax and related financing aspects of its approximately £500 million acquisition, alongside management, of Motor Fuel Group.
  • HarbourVest Partners as co-investor in the 2012 take-private of Omega Pharma, and its subsequent sale in 2014 to Perrigo Company for €3.6 billion.
  • Clayton, Dubilier & Rice in the sale of an approximately 12% stake in B&M for £384 million.
  • HarbourVest Partners as a selling shareholder, together with Exponent, in the purchase of Trainline by KKR.
  • SPIE in the €2.16 billion refinancing of its existing debt.
  • Clayton, Dubilier & Rice in tax aspects of its €1.2 billion acquisition of Mauser Group, a leading provider of industrial packaging.
  • Petroleum Equity in acquiring the operating assets of ATP’s non-debtor UK subsidiary, gaining sale approval in the U.S. Chapter 11 cases of ATP's U.S. parent and the follow-on successful CVA proceedings of ATP UK.
  • Clayton, Dubilier & Rice in its acquisition of a significant stake in B&M Retail.
  • HarbourVest Partners in its $1.4 billion acquisition of the private equity fund interests and direct co-investments of Conversus Capital.
  • Stone Point Capital in its sale of an interest in Securis Investment Partners, an insurance-linked securities manager.
  • Ray Investment, whose shareholders were funds controlled by Clayton, Dubilier & Rice, Eurazeo, BAML Capital Partners and Caisse de Dépôt et Placement du Québec, in a series of accelerated book-building offerings of Rexel shares valued in excess of €3.3 billion.
  • The management team of ABN AMRO Capital, a private equity buyout firm with €3.1 billion of funds under management, in the sale of ABN AMRO Capital to the management.
  • Baring Private Equity Asia in its $360 million acquisition of Nord Anglia Plc.
  • Clayton, Dubilier & Rice in its €2.1 billion acquisition, with AXA Private Equity and Caisse de dépôt et placement du Québec, of SPIE from PAI Partners; its acquisition of British Car Auctions, Europe's leading vehicle auctions and remarketing company; and its £417 million acquisition of Bodycote Testing Group, the laboratory materials testing business of Bodycote Plc; the private equity consortium of Clayton, Dubilier & Rice, Carlyle and Merrill Lynch Global Private Equity in their $15 billion acquisition of Hertz from Ford Motor Company.
  • HarbourVest Partners on various matters relating to its direct and secondary investment programme.
  • Park Square Capital in the restructuring of the Gala gaming group.