Gibson Dunn and HSF Kramer are advising on Veritas’ takeover of Bodycote, while Latham and Bird & Bird have landed roles on Epiris’ acquisition of Gamma Communications.
The deals extend a busy year of private equity takeovers of UK-listed companies, following major transactions including EQT’s £10.9 billion Intertek deal.
City law firms have landed roles on another £3 billion of UK take-private deals this week as private equity buyers continue to circle companies listed on the London Stock Exchange.
FTSE 250 industrials group Bodycote agreed a £1.8 billion takeover by US private equity firm Veritas, while London buyout firm Epiris has struck a £1.1 billion deal for communications provider Gamma Communications.
The deals add to a busy year for private equity takeovers of UK-listed companies, generating a steady stream of work for City law’s corporate teams.
Battle for Bodycote
Gibson Dunn is advising Veritas on its Bodycote acquisition, with a London team including M&A partner Will McDonald and counsel James Addison.
HSF Kramer is advising Bodycote, led by London partners Mark Bardell and Heidi Gallagher, with UK competition head Veronica Roberts also on the deal.
Veritas secured the board’s backing after a competitive battle for the industrials group which included interest from fellow private equity firms CVC and Apollo.
Latham and Bird & Bird land Gamma roles
Latham & Watkins, meanwhile, is advising Epiris on its £1.1 billion acquisition of Gamma Communications, which provides cloud communications and cybersecurity services to businesses across the UK and Europe.
The Latham corporate team is led by London partners Paul Dolman, Richard Butterwick and Suneel Basson-Bhatoa, with Hugh O'Sullivan and Tamryn Gallagher advising on financing aspects.
Bird & Bird is advising Gamma, led by London corporate partners Nick O’Donnell and Simon Allport. The FTSE 250 company is a longstanding client of the firm, which also advised it on moving from AIM to the London Stock Exchange's main market last year.
The deal follows a months-long takeover battle for Gamma, which attracted interest from private equity groups including Waterland, Providence Equity Partners and Oakley Capital.
The two deals are the latest in a series of private equity-backed takeovers that have kept City M&A lawyers busy this year.
Recent transactions include Apollo’s £5.7 billion takeover of easyJet, with Paul Weiss, Clifford Chance and Macfarlanes among the firms landing roles.
The biggest deals have been even larger. EQT agreed a £10.9 billion acquisition of Intertek, with Freshfields and Slaughter and May leading, while Nuveen’s £9.9 billion takeover of Schroders saw Clifford Chance and Slaughter and May take lead roles.
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