Paul Weiss’ team was led by
Oak Hill is a long-term client of Paul Weiss, which was instructed on the deal in July. The firm approached Macfarlanes to advise on
Oak Hill acquired Firth — which makes highly-engineered parts for aircraft engines — from The Carlyle Group and Lehman Brothers. Latham & Watkins London corporate partner Michael Bond advised Carlyle.
The deal was unusual as Lehman acted as both seller and financer of the acquirer alongside GE Commercial Finance and Lloyds TSB Corporate Markets, making the deal a form of refinancing rather than an outright sale.
Ashurst, led by banking partner James Hogben, advised Lehman, GE and Lloyds. It is understood that DLA Piper also had a role advising Firth’s management on the deal.
The deal comes as a number of private equity acquisitions have been pulled because of tight market conditions.
Stewart told Legal Week: “A combination of the sector and the fact that this is a strong business made it possible to get this deal done.”
