News
03/03/2010Travers Smith acts on £325m
Travers Smith has advised Barclays Private Equity (BPE), one of Europe’s leading mid-market private equity investors, and management on the £325m sale of Deb Group (“Deb” or “the Group”), the ‘away from home’ skincare system company, to a newco backed by funds advised by Charterhouse Capital Partners.
Deb manufactures and markets skincare products and dispensing systems for the industrial, automotive, healthcare, food and commercial sectors. The business has operations in 16 countries and its products are sold across 100 countries through a global network of distributors.
Travers Smith originally sold Deb Group back in March 2004, when BPE backed the £135m management buyout taking a 55% stake in the business. The current deal represents a money multiple of 5.7 times on BPE’s original investment of £32m.
Private Equity partner Paul Dolman led the team that included corporate associate Will Yates, tax partner Kathleen Russ, senior tax associate Hannah Manning and technology consultant Alistair Wilson.
The transaction will complete on
Paul Dolman commented: "We are delighted for BPE and the management team. This was a hotly contested auction where we were able to exchange within 48 hours of final bids being received - evidence of the continued uptick in the M&A market and the secondary buy-out market in particular."
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