Sullivan & Cromwell lands first Inflexion mandate in London on $500m buyout

Sullivan & Cromwell has landed its first instruction from private equity firm Inflexion, in an early sign that its high-profile City buildout is translating into sponsor-side work.

The US firm is advising on the financing for Inflexion’s acquisition of Finnish fire protection group Marioff, in a deal reportedly valued at more than $500 million. The business is being carved out of Spectrum Safety Solutions, which is backed by buyout house Sentinel Capital Partners.

Marioff operates in more than 70 countries, with technology used to protect critical infrastructure including data centres, naval vessels and industrial facilities.

The deal adds to a growing portfolio for Inflexion - one of Europe’s top mid-market buyout firms - which includes legal sector assets such as DWF and A&O’s aosphere platform. It also comes in the same week the firm announced the close of its latest €4.5 billion buyout fund, with Kirkland & Ellis advising.

For S&C, the mandate marks its first instruction from Inflexion in London, with new leveraged finance partner Chris McLaughlin leading the team. McLaughlin arrived in February from Weil, where he previously advised the sponsor on several mandates.

S&C’s closely watched London buildout has increasingly been shaped by hires from Weil. Since last summer, the firm has added at least 10 partners from rivals in the City, including former Weil London managing partner Mike Francies and, more recently, former Weil finance partners Alastair McVeigh and Jenny Choi.

Advising

Travers Smith is advising Inflexion on the M&A side, with a team led by private equity and financial sponsors partners Tom Hartwright and Jaryd Davidson.

Competition advice is being provided by partner Ingrid Hodgskiss, with tax led by partner Hannah Manning and technology and commercial support from senior associate Andy Maxwell.

Sullivan & Cromwell is advising on the financing, led by London partner Chris McLaughlin, with tax partner Ian Ferreira also involved. Ferreira joined the firm from Kirkland in February.

Kirkland & Ellis is acting for seller Sentinel Capital Partners.