Macfarlanes advises Keyhaven Capital Partners on €100m continuation vehicle for Novation Tech

Macfarlanes has advised Keyhaven Capital Partners (Keyhaven) on the completion of its oversubscribed €100m continuation vehicle for Novation Tech S.p.A. (Novation Tech), led by Committed Advisors.

Keyhaven is a specialist private equity firm focused on the European mid-market. Novation Tech is a manufacturer of carbon fibre and composite components serving brands across the automotive, sports, leisure and specialist industrial sectors. Committed Advisors is a global private equity investment manager specialising in mid-market secondary transactions.

The Macfarlanes team was led by Fund Formation and Sponsor Solutions Partners Harriet Miller and Tom French with Tax Partner James McCredie, with support from Senior Consultant, Will David, and Senior Associate, George Apps.

Fairview Capital Group acted as financial adviser.

Harriet Miller commented: "It was a pleasure to support Keyhaven on the successful completion of its continuation vehicle for Novation Tech. The oversubscribed close is a strong endorsement of Keyhaven's stewardship of Novation Tech, and the deal brought together our expertise across our Fund Formation and Sponsor Solutions practice.”

Tom French commented: “This completion is a good example of how mid-market managers are using continuation vehicles to deliver liquidity to existing investors while giving a high-performing asset more time and capital to grow.”