Travers Smith is well respected in the market for largely domestic non-contentious work. Peers recognise the dual talents of practice head Margaret Chamberlain and Mark Evans and although the firm is seen as having quite a narrow focus, this allows it to focus on its strengths....
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Travers Smith is well respected in the market for largely domestic non-contentious work. Peers recognise the dual talents of practice head Margaret Chamberlain and Mark Evans and although the firm is seen as having quite a narrow focus, this allows it to focus on its strengths. "Travers Smith have some very good people who are advising on bits of the market," says one peer, "Mark Evans for example I see on Crest work." Another says: "Travers Smith has a very good practice focused on the non-contentious side, they do all the work for Euroclear."
The firm's experience with Euroclear is seen as one of its aces and last year Evans acted for Reigate Capital Markets, on whose panel the firm sits, to advise on a new global clearing and settlement structure.
Clients were particularly taken with Margaret Chamberlain: "Extremely competent on regulatory work, great depth of knowledge, she is involved in number of regulatory groups in London. She knows us and the industry very well," says one. "They are an extremely professional, competent and responsive firm."
The FSA's increasingly aggressive approach has not only led to an increase in investigations but also to a greater scrutiny of corporate management as the regulatory body pushes for greater individual responsibility. Chamberlain has been heavily involved in work related to these issues and has advised corporates not only on their compliance but is also providing advice to senior executives in their preparation for their interviews with the FSA.
On the funds side Jane Tuckley has been active advising Fundsmith on its establishment and regulation. The fund is designed to have a broad appeal through low fees and an internet subscription system.
In straight corporate linked transactions, Tim Lewis provided FSA compliance advice to Arle Capital Partners, an entity formed by the management of Candover Partners, on the acquisition of the same from Candover Investment. Lewis also advised Arle and Candover Partners in their joint acquisition with Pantheon Ventures of certain investments owned by Candover Investments.
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The corporate team at Travers Smith worked across a range of sectors last year and the firm can point to a strong track record in upper mid market transactions.One of the largest mandates last year saw the team advise the Peel Group on the sale of the Trafford Centre to Capital Shopping Centres Group (CSC) for £1....
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The corporate team at Travers Smith worked across a range of sectors last year and the firm can point to a strong track record in upper mid market transactions.
One of the largest mandates last year saw the team advise the Peel Group on the sale of the Trafford Centre to Capital Shopping Centres Group (CSC) for £1.65billion. The deal also saw the Peel Group take a 24.9% diluted shareholding in CSC.
One client liked the attention the firm paid to client relationships: "Yes they are excellent. We've had other business deals with them last year. They keep in regular contact throughout the year, invite me to training seminars, they send out information on particular topics. Yes, I feel valued."
Another seller side role saw the team advise long standing client Intec Telecom Systems on its £236.7 million sale to CSG Systems. Travers has acted on all of Intec's own M&A activity since 2000 and indeed certain takeovers were still being enacted while the company itself was being sold.
Finally in the transport infrastructure sector, a team led by Richard Skelton and Anthony Foster acted again for the Peel Group on the sale of its 65% stake in its airports division, including John Lennon airport in Liverpool and the Robin Hood Airport in Nottingham to Vancouver Airport Services.
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Travers Smith has a noteworthy private equity practice, which receives mandates from notable players such as The Carlyle Group. Phil Sanderson leads the team....
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Travers Smith has a noteworthy private equity practice, which receives mandates from notable players such as The Carlyle Group. Phil Sanderson leads the team.
The team's reputation with clients was very high and many pointed out that the firm's focus on this area was paying dividends: "Extremely knowledgeable of the business area, they are the first port of call on private equity because of their dedication to the industry, they understand the importance of fees, driving forward ideas," says one. "They are partners to our business and they invest in the relationship they have with us. They act as partners. First rate firm, strength and depth with consistent level of quality across the team."
The team advised Carlyle last year as it acquired software developer The Foundry from Advent Venture Partners. The Foundry produces visual effects for the film industry.
One of the largest deals and one of the most high profile saw the team acting for the management of Brit Insurance on the proposed £888 million buy out by Apollo and CVC Capital Partners. Again on the sell side the team also acted for Wagamama on its sale by Lion Capital to Duke Street Capital.
Other highlights included acting for Silverfleet Capital on the buy-out of footwear retailer Office from West Coast capital, and advising Arle Capital Partners on the acquisition of Candover Partners from its investment trust, Arle is made of members of Candover's management.
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