LONDON – LAWFUEL – UK Business – Allen & Overy has advised the Welcome Break group on its GBP300 million leveraged recapitalisation, which values the UK motorway service operator at approximately GBP500 million. As part of the transaction, the group is returning capital to its shareholders including its private equity owner, Investcorp.
Welcome Break is the second largest motorway services operator in the UK, with a portfolio of invested sites and associated lodges. Investcorp is a global investment firm with more than a twenty year history in Western European and North American markets.
The Allen & Overy team was led by corporate partner Ian Lopez, banking partner Jacqueline Evans and real estate partner Carol Hopper, assisted by corporate associate Raj Bahia and trainee solicitor James Bruce, leveraged finance associate Camille Astier and real estate associate Victoria Tetis.
Ian Lopez commented, “We are delighted to have advised Welcome Break on this transaction. Over the years, we have advised the Welcome Break group on a wide variety of matters and the group is now well placed for the next stage in its development.”
For further information, please contact Karen Levin ([email protected]) on +44 20 3088 4341.