Press Release
14 February 2008
McGrigors forms UK-wide Private Equity Team
UK law firm McGrigors LLP has launched a new UK Private Equity team, bringing together expertise across its corporate practice.
Gary Anderson, an Edinburgh-based partner in the firm’s corporate division, leads a team of eight partners with experience that spans a wide range of successful private equity transactions.
The private equity industry enjoyed its best ever period of growth in the first six months of 2007 and experts within the team have been actively involved in a number of recent private equity deals for a broad range of UK and international clients, in an array of sectors including biotech, software, energy, real estate, leisure and ports and transport.
Despite the recent slowdown, the mid-market remains very active. The McGrigors team has just completed for 3i its investment in TS Marine (Contracting) Limited which together with ABN Amro’s merchant bank’s investment amounted to £53 million, as well as having recently acted for management in the £44m MBO of Eurotel Holdings.
Gary Anderson said: “There has been a heightened interest in private equity over the last 12 months or so, with a number of high profile regulatory and tax developments – most notably the proposed changes to capital gains tax taper relief.
“The Walker Report guidelines and recommendations on transparency and disclosure, published in November on behalf of the British Venture Capital Association, attempt to mitigate many of the perceived concerns about large-scale buyout activity and there will, no doubt, be further debate relating to tax and disclosure in the coming months.
“Our collective experience in transactions within this critical area of the UK economy, and a desire to draw together than expertise across the UK, prompted McGrigors to form this dedicated team – one which will complement our wider offering in the corporate sector.”
The core Private Equity Team comprises eight partners from four of McGrigors' six UK offices – Gary Anderson, Roger Connon; Barry McCaig; Alan Diamond; Allan Rippon; Patrick Martin, John Rutherford and Richard Masters, although the latter has just been elected as managing partner and will take over the management of the firm this April.
For further information please contact:
Louisa Hollins
Financial Dynamics
Telephone - +44 (0) 20 7269 7108
Email - Louisa.hollins@fd.com
Andy Peat
Financial Dynamics
Telephone - +44 (0) 20 7269 7185
Email - andy.peat@fd.com