CMS advises LDC, Forward Private Equity and the management shareholders on uSwitch exit

CMS in London advised leading UK-mid market private equity house, LDC, Forward Private Equity and the management shareholders on its £160m sale of price comparison website uSwitch to Zoopla Property Group plc (ZPG.) The transaction is subject to regulatory approval.

LDC acquired a majority stake in uSwitch in August 2013, as part of a management buyout, with Forward Private Equity retaining a substantial minority holding. They have since worked with the management team to support its growth strategy and gain market share, through the expansion of its platform.

The CMS team was led by CMS’ Head of Private Equity James Grimwood, with assistance from senior associate Angela Clump and lawyers Chloe Player and Munal Mehta (Corporate); Partners Aaron Fairhurst and Nicholas Stretch, senior associate Tair Hussain and lawyers Caroline Lennie and Jason Todd (Tax); senior associate John Markham (Competition); senior associate Tom Siggers (Banking); lawyer Pranav Yajnik (Employment); and partner Ash Saluja and lawyer Helena Wilde (Financial Services).

Commenting on the transaction, James Grimwood said: “We are pleased to support the shareholders of uSwitch on a successful outcome for all parties. This significant transaction brings together two well-known digital consumer brands and we wish the enlarged group every success.”