Goodwin’s Private Equity Momentum in London Continues as Team Closes Four Diverse Deals in Four Weeks

Goodwin Procter’s London Private Equity Group continues to grow its footprint in the market, having acted on four diverse transactions announced over the past four weeks.

Richard Lever, private equity partner who joined in June to spearhead the growth of the firm’s practice in Europe, said, “We are pleased to have acted on four very diverse transactions, which highlight the breadth and depth of our private equity offering.”

Most recently, the team advised:

• Better Capital, a turnaround specialist, on the sale of Santia Holdings Ltd, a leading UK provider of integrated health & safety and environment risk management services, to Alcumus Holdings for £47M. Goodwin also advised Better Capital and individual members of Santia’s management team in connection with this transaction, which closed on December 2^nd. The team was led by Richard Lever and included Gemma Roberts, Stanislav Shishkin and Rachel Thomas (Corporate); Katie Leah (Tax); Paul Lyons, Simon Fulbrook and Toby Young (Finance); and Charlie Robinson (Real Estate).
• The owner of Aero Technics Aviation Limited in relation to Graphite Capital’s provision of development capital to the civil aircraft maintenance company to fund its acquisition of Airbase Interiors, which specialises in the repair and dry cleaning of aircraft seats. The deal was announced on November 30^th. The team was led by Richard Lever and Michael Miranda  (Corporate), Katie Leah (Tax), Simon Woodcock (Real Estate).
• Growth equity investment firm, JMI Equity, on its £32m investment into UK-headquartered software company, Avecto Limited, which closed on November 24^th. The series A financing will support the continued expansion of Avecto, a market leader in the endpoint security sector. The team comprised Richard Lever, Brian McPeake, Michael Miranda and Stanislav Shishkin (Corporate), Katie Leah (Tax) and Joel Lehrer (IP).
• DST Global on its investment into Roofoods Ltd, trading as Deliveroo, as part of the company’s recent financing round. DST led the investment with participation from Greenoaks Capital and existing investors. Founded in London in 2013, Deliveroo provides a delivery service for leading restaurants as well as an online marketplace for customers to order meals. The transaction team included Jamie Hutchinson, Richard Lever, Gemma Roberts and Aaron Klein (Corporate); and Bill Weiss, and Katie Leah (Tax).

Separately, the global team also recently advised TA Associates on its announced agreement to acquire Russell Investments from the London Stock Exchange Group plc and advised Reverence Capital Partners on its significant minority investment in Russell Investments. The transaction, valued at US$1.15 billion, is subject to regulatory approval and is expected to close in the first half of 2016.

Goodwin’s Private Equity Group focuses on buyouts, recapitalisations, growth equity investments, and portfolio company transactions, with a focus on the middle market and growth equity sectors. With a full-service team of more than 100 lawyers, the practice covers the full life cycle of clients’ investments, across industries including technology, life sciences, Fintech, financial services, consumer, healthcare, and food – from fund formation to exit.