This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.
International law firm Olswang has advised private equity firm Livingbridge on two multi-million pound investments.
In January 2016, Olswang advised on Livingbridge's investment in international procurement specialist Efficio.
Founded 15 years ago, Efficio works with clients across the world to help them achieve breakthrough results in their procurement functions. For the group which already has revenues of over £30m, and whose projects span across six continents in more than 30 different countries, the investment by Livingbridge will help Efficio to accelerate its growth trajectory over the coming years while retaining the stability of its established leadership team.
In April 2016, Olswang advised on Livingbridge's investment in the ferry price comparison website provider, Direct Ferries.
Founded in 2001, Direct Ferries sells ferry tickets on behalf of ferry companies including P&O Ferries, Stena Line and Brittany Ferries. The group operates ferry ticket websites in 22 languages, covering over 1,970 ferry routes and connecting over 570 ports in 196 countries and islands around the world. Livingbridge will now work with Direct Ferries to help them grow its network of ferry companies, and invest further in its global ticket distribution capability. The group will also look at international expansion into the Asian and US markets.
Livingbridge Partner Liz Jones commented: "The Olswang team have worked extremely hard since the start of the year to deliver both of these complex and time sensitive deals for us, providing invaluable guidance on the legal complexities relevant to each. Our relationship with Olswang continues to flourish, with their responsiveness, commercial insight and all round understanding of our commercial concerns continuing to impress on each occasion."
Olswang Corporate Partner Chris Mackie commented: "We are delighted to have completed both of these transactions for Livingbridge in what has been a very busy and productive period for them, and to further build on our already extensive portfolio work for them. With Livingbridge as an investment partner, each of Efficio and Direct Ferries now are well placed for their continued expansions, and we know that Livingbridge and their new portfolio companies will have bright futures together."
The Olswang team was led by Corporate Partner Chris Mackie with assistance from Corporate Senior Associate Georgina Ball and Corporate Associates Tom Jameson and Jennifer Lloyd. The debt-funding of the transactions was led by Legal Director Kerry Langton, with Olswang's Tax team led by Partner Mark Joscelyne and Tax Senior Associate Robert Sartor.