Macfarlanes’ Banking and Finance Group has advised on its second mezzanine financing of the summer.
Earlier this summer, Banking and Finance Partner Christopher Lawrence advised AXA, GSC and Sankaty on the mezzanine financing for the acquisition of Wood Mackenzie by Charterhouse Capital Partners, which remains this year’s largest buyout in Europe.
In September, Banking and Finance Partner Richard Rogerson advised Indigo Capital LLP on the mezzanine financing of Rutland Partners’ acquisition of the CeDo group of companies from Delton AG. The acquisition closed following receipt of merger control clearances. CeDo is one of Europe’s leading manufacturers of household disposables, with operations in the UK, France, Germany, Poland, Russia and China.
Macfarlanes’ Banking and Finance Group has a long history of advising mezzanine lenders on their investments and, more recently, on the restructuring of certain of these investments. Macfarlanes’ Restructuring Group was bolstered in September by the arrival of Francis Bridgeman from Allen & Overy LLP. For recent commentary on restructuring issues, including a summary of the key points arising out of the IMO Car Wash Restructuring, please visit www.macfarlanes.com.
Christopher Lawrence commented: “The Wood Mackenzie acquisition was successfully completed against a backdrop of extremely limited appetite for funding large acquisition finance transactions. The financing package was strongly negotiated by each of the borrower, the senior lenders and the mezzanine lenders to ensure their respective rights were safeguarded as much as possible.”