Group backed by Downing enters into joint venture with European private equity investor
Having acted for Downing LLP on it’s initial equity investment last year, HLaw acted for the investee holding company on an innovative transaction structure where management equity was sold to a joint venture partner (and its carry vehicle), a new line of debt funding was inserted from funds under management from Downing LLP and then the joint venture partner invested further equity into the group with a view to its pursuing an acquisition strategy thereafter.
Deal/project: Joint venture
Date closed: October 2019
Other lawyers and advisors: Womble Bond Dickinson acted for management. Freedman & Hilmi acted for the JV partner.
£2.5 million +Invested