Law Firms

Weil Gotshal & Manges

Top trio win roles on £1.1bn Lion Capital buy-out

Author: Jeremy Hodges

Published: 23/07/2008 13:53

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Linklaters, Weil Gotshal & Manges and DLA Piper have all landed lead roles on the £1.1bn sale of Foodvest to private equity group Lion Capital.

Foodvest is one of the largest frozen food manufacturers in Europe with a major presence in UK, France and Scandinavia, housing brands such as Findus, Young’s and Admiral Pie.

Private equity house CapVest turned to Linklaters for advice with private equity partner Richard Youle leading the team, supported by managing associate Roger Johnson in Stockholm.

Youle said: “It is certainly one of the biggest deals around at the moment, and for its sheer size, for it to go from nothing to close in four weeks is a great effort.”

Linklaters have been regular advisers to CapVest in recent years, having acted on the acquisition of Young’s and the 2006 Foodvest refinancing.

Weil Gotshal was instructed by Lion Capital with a team headed up by office head Mike Francies and private equity partner Sarah Priestley.

Lion Capital traditionally hands much of its work to Weil Gotshal from a relationship fostered from the spin-out of the company from US buy-out house Hicks Muse Tate & Furst – a major client of the firm in the US.

DLA Piper advised Foodvest with Leeds corporate partner Stephen Atkinson leading the team. In 2006 Atkinson advised CapVest on the secondary buy-out of the frozen food producer from EQT.

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