Weil has advised HgCapital on its acquisition of a majority stake in ATC Group, the leading independent provider of corporate services to multinational corporations and financial institutions.
Under the terms of the transaction, funds managed by HgCapital will acquire a 61% shareholding in ATC Group through the buy-out of three founder shareholders, while management will maintain an interest in ATC Group of around 39%. The team was led by Jonathan Wood, supported by finance partner Michael Nicklin, and associates James Harvey, Katy Byatt, Simon Lyell, Alex Winter, Simon Saitowitz and Iden Asl. ATC were advised by Stibbe.
In the same month, we advised Hg Capital on the sale of Pulse Staffing, the UK’s leading independent health and social care staffing services business, for an undisclosed sum. The Weil team was led by Ian Hamilton, assisted by Simon Lyell and Iden Asl.
HgCapital is a long-standing private equity client of the London office and, including these deals, we have advised HgCapital on three European transactions this year, following the May acquisition of Swedish disability care service company, Frosunda.
These deals add to an already successful and active 2010 for Weil’s London private equity team who have been involved in some of the most significant private equity transactions of the year. Lawyers in this team have signed or completed a further fourteen private equity deals since the beginning of 2010, including advising Advent International and Bain Capital on their purchase of the Global Merchant Services division of the Royal Bank of Scotland in August, with an enterprise value of up to £2.025 billion. At the time this was the largest private equity deal in Europe since 2007.
