Travers won its first instruction for private equity group Carlyle last year but has not yet advised on a successful bid.
The instruction is a boon to the City firm’s buy-out practice, with Carlyle traditionally using a limited stock of advisers. US firm Latham & Watkins enjoys a position as the private equity house’s main adviser in the US and Europe, although the group has also instructed firms including Clifford Chance (CC) in the past.
Carlyle is one of the world’s largest buy-out groups, with more than $75.6bn (£38.8bn) under management. Since it was founded in 1987 the firm has invested more than $32.3bn (£16.6bn) in about 685 transactions.
Recent deals for the group saw Latham instructed last year on the €1.48bn (£998m) acquisition of Spanish inspection and certification group Applus Servicios Tecnologicos - a deal that was the largest Iberian buy-out in two years.
CC, meanwhile, took a role advising Carlyle on the development of the UK’s first bioethanol plant at the beginning of 2007.
Travers’ private equity team is one of the most active groups of the firm, advising on £20bn worth of deals in the last 12 months. It has consistently punched above its weight in the last few years and has a client roster that also includes Exponent Private Equity, Phoenix Equity Partners, Macquarie and Barclays Private Equity.
Major deals for the firm in the last 12 months include advising UK group 3i on its £790m sale of National Car Parks to Macquarie and advising Bridgepoint Capital on its £360m acquisition of clothing brand Fat Face. The firm also advised buy-out group TA Associates on its acquisition of a stake in Commerzbank-owned Jupiter Asset Management as part of a £740m buy-out.
Travers also recently won US mid-market house DLJ Merchant Banking - an affiliate of banking giant Credit Suisse - as a new client.
The firm’s private equity group was set up in 1996 and is headed by partner Charles Barter.
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