Squire Patton Boggs has advised on 20 transactions worth over £1.7 billion in the first quarter of 2017. Headline deals included the £750 million acquisition of Zenith by private equity investor Bridgepoint, the £103 million acquisition of Park Leisure and the Warburg Pincus-backed merger of travel services groups Accelya and Mercator.
Corporate partner Jonathan Jones, assisted by Jayne Aarons, advised the management team of Zenith, the UK's leading independent leasing, fleet management and vehicle outsourcing business, on its acquisition by Bridgepoint. This is the sixth successive MBO of Zenith in 14 years, and Squire Patton Boggs has acted on all of them.
A team led by partner Hannah Kendrick, assisted by Craig Pettit, advised luxury holiday park operator Park Leisure on its acquisition by a management team led by Park Leisure’s co-founder, Miles Dewhurst, and Midlothian Capital Partners.
Partner Richard Hunt, assisted by Carly Gulliver, led a team that advised the management of Accelya, a provider of financial and commercial solutions to the airline industry, on its merger with Mercator. The deal will create a leading global technology-enabled solutions provider to airlines, travel agents and freight forwarders, and completed on 17 March. Warburg Pincus will be the majority shareholder in the combined company, following its acquisition of Accelya from Chequers Capital.
Mr. Hunt, who was recently appointed head of the Leeds Corporate team, commented: “This year has started in the same vein as the previous couple of years, and we’ve had a very busy time advising on some headline deals in the region and beyond. We’ve been pleased to support longstanding clients of the firm on some transformative transactions, while at the same time winning instructions from new clients, which has given us a good pipeline of work.”
Other notable transactions during this period also included:
- Advising construction supplier SIG plc on the sale of its flooring business to private equity company Endless (Paul Mann)
- Advising Yorkshire Provender on its sale to the Hain Celestial Group (Richard Hunt)
- Acting for the shareholders of Sirdar on the sale of the business to mid-market private equity manager, BlueGem Capital Partners (Paul Mann)
- Acting for the shareholders of Internet Fusion on its sale to Newtyle Nominees (Richard Hunt)
- Advising Zenith/Bridgepoint on the acquisition of Contract Vehicle Leasing (Jonathan Jones).
Squire Patton Boggs was ranked Number 1 by volume and value of deals completed in Yorkshire & the Humber in Q1 2017 (Experian). The firm won Corporate & Commercial Team of the Year at the 2016 Yorkshire Legal Awards for the second consecutive year.