LAWFUEL – Legal Newswire – Clifford Chance closes first UK deal for Clayton, Dubilier & Rice and the 4th Private Equity transaction for Clifford Chance in a week International law firm Clifford Chance has advised private equity firm Clayton, Dubilier & Rice on the sale of its majority shareholding in Brake Bros Holding I Limited, the parent company for the Brakes Bros food distribution business, to Bannerbrick Limited, a company owned and controlled by Bain Capital.
The Clifford Chance team was led by private equity partner Simon Tinkler, assisted by Katrina Terei. Clare Hoxey and Victoria Thompson-Hill advised on pensions, and Shelagh Harrison and Edward Byne on Property.
Simon Tinkler commented: “This is the first major UK transaction we have carried out for Clayton, Dubilier & Rice. I think it highlights the desire of clients to tap into our experience of the UK private equity market and our ability to deliver results for our client. The deal structure was also pretty unusual, with a private takeover offer for the company rather than traditional SPA route.”
Debevoise & Plimpton LLP were also legal advisers to Clayton, Dubilier & Rice.
Notes to Editors:
1. Private Equity: Clifford Chance’s global private equity practice is a market leader providing the highest quality advice on all aspects of private equity. Our uniquely integrated service is provided by specialist lawyers with extensive multi-jurisdictional experience combined with a business focused, innovative approach.
2. This is the second high profile private equity deal carried out by Simon Tinkler within 3 days. The first being the £400 million plus C.I. Trader public to private for Duke Street and Europa. Private equity partners Simon Tinkler and Kem Ihenacho co-lead this transaction.
3. The third deal was acting for CVC and Permira in connection with the merger of motoring organisation the AA with Saga, the provider of products and services for people aged over 50. The transaction values the combined group at £6.15 billion. Global private equity head James Baird and private equity partner Kem Ihenacho led this transaction.
4. The fourth deal was Lyceum Capital Partners’ disposal of Asquith Court Nurseries to Dawnay Day for £95 million. Private equity partner Simon Cooke led this transaction.
5. Clifford Chance LLP is one of the world’s leading professional service organisations, helping clients achieve their goals by combining the highest global standards of business and law with local specialist service. The firm is organised around six legal practice areas: capital markets; corporate (including M&A); finance; litigation and dispute resolution; real estate; and tax, pensions and employment law. Clifford Chance has 28 offices in 20 countries, and 3,800 legal advisers.
6. Clifford Chance is Law Firm to the Rugby World Cup 2007
For further information about Clifford Chance see www.cliffordchance.com
For further information about this release contact Simon Tinkler +44 (0)20 7006 1684 or Julia Graser on +44 (0)20 7006 1416