Tax issues on stake sales and investment into managers: structuring, pitfalls and steps to take now
About
Stephen specialises in private equity, acting predominantly for private equity sponsors and other institutional investors.
He is the author of a chapter in both “The Private Equity Review” and “Private Equity Exits”.
Experience
- Advising 7IM on its acquisition of Amicus Wealth as part of 7IM’s broader growth strategy.
- Advising The Instant Group on its merger with workspace network IWG plc’s digital businesses.
- Advising private equity firm Epiris on the acquisition of Sharps, the UK’s leading fitted bedroom furniture specialist, by one of its advised funds, Epiris Fund II.
- Advising on the sale of Avant Homes Group, one of the UK’s leading private residential property developers, to private developer Berkeley DeVeer in partnership with funds advised by Elliott Advisors, an affiliate of global fund manager Elliott Investment Management.
- Advising James Hay Holdings, a portfolio company of Epiris, on its recommended offer for Nucleus Financial Group plc.
- Advising Buzz Group Limited and Buzz Entertainment Limited, the UK's biggest omni-channel bingo business, on a restructuring process by way of CVA, the injection of new equity and a debt restructuring.
- Advising Seven Investment Management, the wealth management firm backed by Caledonia Private Capital, on its acquisition of financial planning boutique Partners Wealth Management.
- Advising private equity firm Epiris on the sale of TI Media, the large UK publisher previously known as Time Inc UK, to Future plc.
- Advising BMS Group on the investment of £500m by affiliates of British Columbia Investment Corporation (BCI) and Preservation Capital Partners (PCP).
- Advising Greenergy on a major investment by Brookfield Business Partners.
- Advising the selling shareholders of Paroc Group, the leading producer of stone wool insulation in the Nordic and Baltic regions, on its sale to CVC Capital Partners for an enterprise value of approximately €700m. As a precursor to the sale we advised Paroc on a €430m high yield bond issue, a €60m revolving credit facility and all related refinancing and intercreditor issues.
- Advising Chiltern on its $1.2bn sale to LabCorp.
- Advising the management team of Elian (formerly Ogier Fiduciary Services) on the sale of the company by Electra Partners to Intertrust Group B.V. for £435m.
- Advising the management team of Audiotonix on its sale from Epiris, a UK-based private equity fund manager, to Astorg, a European private equity group.
- Advising Freightliner Group Limited management on its sale to Genesee & Wyoming Inc. from Arcapita.
- Advising Caledonia Investments on its acquisition of UK holiday park operator Park Holidays UK, for £172m.
- Advising Epiris on its disposal of the PINE Unit Trust to the Universities Superannuation Scheme for £95m.
- Advising OpCapita on the purchase of The Football Pools business from pool and tote betting company, Sportech plc, for a total cash consideration of £83m.
- Advising Hollyport Capital on the sale of a significant minority interest in Sauflon Pharmaceuticals Limited, a leading European manufacturer and distributor of soft contact lenses and solutions, to The Cooper Companies, Inc, in a transaction which valued the target at approximately $1.2bn.
- Advising the Avant Homes group (formerly known as the Gladedale Group) on its group restructuring and separate sale of the Quartermile estate in Edinburgh.