buyins & buyouts

MBOs and MBIs have enjoyed a long and successful tradition in the UK since they first came to prominence in the 1980s.  Lawyers at White & Black have advised on many of the leading MBOs and MBIs during this time such as the buy-outs of Vectair Systems Group (backed by Matrix private equity) Terinex, Autosigns and Turners of Soham.

The White & Black team brings a formidable level of expertise and experience in MBOs and MBIs with over 50 years combined experience in these types of transactions.  We have both the specialist knowledge to negotiate the minutiae of these deals and also, when required, the empathy and understanding to take a helicopter view of the commercial dynamics of a deal.  We appreciate the complex nature of the inter-relations between departing owners (who often roll-over part of their sale proceeds) incoming management and financiers including equity, mezzanine and senior debt providers.

We advise on both the corporate and banking elements of deals and can handle the most complex of transactions, including cross border deals.  We have strong relationships with other specialist lawyers across the globe and frequently advise in tandem with these firms.

We act for management teams, finance providers, trade investors, selling shareholders and target companies alike, thereby ensuring that our advice is always informed by an appreciation of the other parties’ perspective.

White & Black advises on all aspects of MBOs and MBIs, including:

• heads of terms, confidentiality agreements and exclusivity arrangements;
• sale and purchase agreements, tax indemnities and ancillary documentation;
• legal due diligence, warranty and disclosure exercises;
• corporate governance issues;
• Investment agreements, investor rights agreements and subscription agreements;
• Inter-creditor agreements, ranking and priority deeds, facility agreements, security documents and other banking arrangements;
• public to private deals