CMS advises longstanding client AAC Capital
CMA Cameron McKenna has successfully advised longstanding client AAC Capital Partners ("AAC") on their agreement to acquire majority stake in NSL Services Group Ltd (“NSL”), one of the UK's leading outsourced services providers, from 3i. The value of the transaction is £120m (€143m).
This is the fourth transaction in recent months that CMS has worked on with AAC, with other deals including advising on investments in Martindale Pharma, and successful exits from TGI Fridays and U-POL.
The deal was led by Head of Corporate, Andrew Sheach with support from Martin Treagus, Angela Clump, Tim Wass and Sinead Oryszczuk (Corporate); partner John Naccarato, Sean Galvin and Lizzie Fraser (Banking); partner Mark Atkinson, Ewan Horn and Laura Jamieson (Pensions); Aaron Fairhurst (Tax); Richard Curtis (Real Estate), Siobhan Costello (Competition), Tair Hassan (Share schemes); and Ian Watson (Employment).
Andrew Sheach comments; “This year has been particularly busy for longstanding client, AAC, and we were very pleased to support them on yet another notable acquisition."
AAC is one of Europe's leading private equity firms, with teams operating in the Netherlands, UK and Sweden. It currently has €1.7 billion total funds under management. The company’s main focus is to back management buyouts and management buy-ins of profitable, cash-generative Northern European companies, usually with a value between €50 – 500 million in the industrial, services and consumer sectors.
NSL is the UK market leader in on street parking management, working on behalf of more than 50 local authorities in the UK, including most of the large London boroughs and also Manchester and Edinburgh.
Travis Smith advised the vendors, led by Philip Sanderson. On the sale side, Paul Dolman led, and Doo-Soon Choi from Ashurst led on advising the debt side.
