Stephenson Harwood advises Lifestyle on creation of new global group, Norell

Law firm Stephenson Harwood LLP has advised Lifestyle and its founder shareholders on the combination of AnyCard, Lifestyle and Savvy to create Norell, a new global group in the gift card, branded payments, rewards and incentives market.

The transaction brings together three complementary businesses with operations across the UK, Europe and North America. Operating under the new Norell parent group, the businesses will retain their individual brands and specialist capabilities while benefiting from increased scale, investment and international reach.

The new group is backed by Codex Capital alongside the existing investors in the founding businesses. Collectively, AnyCard, Lifestyle and Savvy generate more than £100 million in revenue, serve more than 2,000 corporate clients in partnership with over 1,300 brands, and have processed more than US$8 billion in card value across more than 45 countries. The investment from Codex Capital will support the businesses' continued growth and development, including investment in technology, content and service capabilities across international markets.

Andy Lister, Director, Norell commented: “Stephenson Harwood provided excellent guidance and support for this pivotal development at Norell. It has been a pleasure to work with Lucy, Adrian and the wider team, and we are grateful to each of the team members involved.”

Stephenson Harwood's team was led by Private Equity Partner Lucy Thorpe, who was supported by Managing Associate Adrian Moss and Associates Ben Challenger and Jessica Martin. Additional support was provided by the Stephenson Harwood Tax and Incentives team, led by Partner Nicholas Stretch, and Stephenson Harwood Finance team, led by Partner Julie Romer.