Leverage and Acquisition Finance
Advising on complex leveraged and acquisition finance transactions
Our team advises both lenders and borrowers across the full range of leveraged and acquisition finance transactions, efficiently and with confidence.
We support credit funds and other private capital providers, alternative lenders, investment and commercial banks, financial investors, sponsors including their portfolio companies, corporates and founder-backed businesses, delivering strategic and pragmatic advice on international and domestic cross-border leveraged financings.
Our broad client base enables us to anticipate issues, bring exceptional market insight to bear and deliver commercial solutions to our clients. We build deep, long-term relationships with our clients. Both elements set us apart from other legal providers in the market.
We are known for our extensive sector knowledge and senior-led approach to guiding clients through public and private acquisitions, management buy-outs, corporate acquisitions, financings, refinancings and recapitalisations - often involving complex capital structures, multi-jurisdictional considerations and challenging timelines.
We support our clients on all aspects of reviewing, structuring, negotiating, documenting and executing:
- private and public single and multi-track acquisition bid processes, leveraged and management buy-outs, financings, refinancings and recapitalisations, including lender education, stapled financing, mandate and commitment papers, term sheets and interim facilities;
- all tiers of leveraged finance capital structures, including senior, super senior, unitranche, FOLO, term loan B, second-lien, mezzanine, asset- and receivables-based, recurring revenue, opco/propco, ground rent, PIK and other holdco financing, bridging debt, vendor finance, equity co-investment, warrants, synthetic warrants and related hedging arrangements, across the full range of bilateral, clubbed and syndicated bank and private credit markets, as well as capital solutions and special situations lending, restructurings and workouts for domestic and international transactions and the English law aspects of high yield bonds;
- domestic and multi-jurisdictional guarantee and security packages;
- all aspects of intercreditor and subordination arrangements and agreements-amongst-lenders;
- due diligence, acquisition, public offer and IPO-related, equity and debt documentation; and
- syndication and primary and secondary market investments in leveraged facilities.
Work highlights include advising:
- Ares Management on financing to Lovell Minnick Partners for the merger of Waverton Investment Management with London & Capital;
- Arcus Infrastructure on financing for the acquisition of Workdry International;
- Crestline in connection with their financing of the 2Excel group;
- Exponent Private Equity on financings for the acquisitions of Isio;
- Five Arrows and other senior lenders on the acquisition of Exemplar Health Care by Agilitas Private Equity;
- Siris Capital on acquisition financings and refinancings for Equiniti and Travelport;
- an investment manager as lender on additional credit facilities for a travel and hospitality group; and
- GHO Capital on financing for the acquisition of Sterling Pharma.
