Macfarlanes advises Wendel on its acquisition of a controlling interest in IK Partners

06 November 2023

Macfarlanes has advised Wendel Group, the French listed investment firm, on its acquisition of a controlling interest in IK Partners, a leading European mid-market private equity firm.

Founded in 1989, IK is one of Europe’s most recognised PE firms, with teams across the UK, Nordics, France, Benelux and DACH. It manages over €11 billion of private assets on behalf of third-party investors and has invested in over 180 companies since inception. 

As part of the transaction, Wendel will commit significant capital to support IK’s present and future platform funds, as well as the development of new strategies. The envisaged transaction would also lead to a full acquisition of IK over time.

The acquisition is subject to customary regulatory and other approvals, and is expected to complete in the first half of 2024. The partners at IK will be significantly reinvesting at completion.

Macfarlanes acted for Wendel alongside Darrois Villey Maillot Brochier, the independent French law firm. 

The Macfarlanes team was led by corporate and M&A partner Nicholas Page, with assistance from senior associates Greg James and Emma Bailey, alongside managing partner Luke Powell, investment management partner Chris Daniel, commercial partner Malcolm Walton, regulatory partner Michael Sholem and regulatory senior associate Rachael Preston. Tax expertise was provided by partner Jeremy Moncrieff and senior counsel Alex Ereira.

Nicholas Page comments: “This is a fantastic transaction for Wendel, and should set the foundation for the continued growth and strengthening of the IK platform in an industry that is seeing an increasing number of alliances being formed.  It was also a pleasure to act alongside Darrois, a firm with whom we have worked closely over many years.”