Herbert Smith is advising private equity giant CVC Capital Partners on a Ä548m (£373m) deal, a breakthrough for the firm’s private equity practice.
The firm is advising CVC and AlpInvest on the sale of the private equity houses’ shareholding in pipeline supplier Wavin.
Herbert Smith corporate partners Adam Wells and Charles Howarth led the team, working alongside Dutch ally Stibbe’s
The deal marks a repeat instruction as both firms advised CVC, AlpInvest and Wavin last October on Wavin’s Ä370m (£252m) float on
On this deal CVC and AlpInvest sold their combined 45.65% share in Wavin to ABN Amro Rothschild and Fortis Bank. Both banks were represented by their in-house legal advisers.
Wells said: “We are delighted to have worked again with CVC and AlpInvest. We believe this deal illustrates our developing relationship with them and adds to our list of recent transactions for leading private equity houses.”
CVC is one of Europe’s most active buy-out houses, having raised more than Ä16.8bn (£11.4bn) of funds in Europe and
Clifford Chance is known for its close links with CVC, although Freshfields Bruckhaus Deringer has handled several deals for the client in recent years.
