Investment funds
Ben advises fund managers and investors on a variety of transactions in the asset management sector, including M&A and capital raising, working closely with our financial services regulatory team. Key transactions include:
3 Step IT strategic partnership with BNP Paribas
Advising Finnish-based 3 Step IT on its strategic partnership with BNP Paribas Leasing Solutions to create a leading integrated IT leasing business across various European jurisdictions.
Disposal by Vincent Tchenguiz of stake in listed private equity fund
Advising funds connected with tycoon Vincent Tchenguiz on the sale of a major stake in Aberdeen Private Equity Fund, a listed private equity fund managed by Aberdeen Asset Management.
Vistra Group acquisition of Jordans
Advising Vistra Group, a leading global trust, fiduciary, fund and corporate services provider, on its acquisition of Jordans, one of the largest UK company formation agents and providers of corporate and commercial legal expertise and compliance services.
IPO of Charlemagne Capital
Advising emerging markets fund manager Charlemagne Capital on its IPO on the London AIM market with an initial market capitalisation of £300m.
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Investment funds
Shipping
Ben has a strong track record of working with shipowners, finance providers and other shipping industry participants and works closely with the firm’s ship finance and marine and international trade teams. Key transactions include:
Euronav JV with Ridgebury
Advising Euronav, the world’s largest listed crude tanker company, on its joint venture with affiliates of Ridgebury Tankers and clients of Tufton Oceanic for the acquisition of two Suezmax vessels for a total consideration of US$40.6 million.
Subsea 7 acquisition of Siem Offshore Construction
Advising Oslo-listed Subsea 7 SA, a global leader in seabed-to-surface engineering, construction and services on its €140 million acquisition of submarine cabling business, Siem Offshore Contractors GmbH, and two specialist cabling vessels.
AET acquisition of Paramount Tankers
Advising AET, one of the world's largest tanker owners, on its acquisition of the 50% it did not already own of Paramount Tankers, a company owning six Aframax tankers, from Golden Energy.
SMT Shipping joint venture with CSL Group
Advising SMT Shipping on the sale of 50% of Eureka Shipping, a pneumatic cement vessel business, to CSL Group to create a joint venture designed to combine their respective expertise, resources and technologies to expand services to customers in the global seaborne cement powder and fly ash transportation markets.
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Public and private M&A
Ben advises clients on a broad spectrum of M&A transactions, including public takeover offers and private company asset or shares deals, often with cross border elements. Ben has been ranked for mid-market M&A in Chambers UK and some of his key transactions include:
M&A transactions for RELX Plc
Advising the FTSE 100 company on several transactions including the sale of the Farmers Weekly publishing business and the acquisition of the Snowflake Software aviation data business.
Lloyds Bank and RBS disposal of rail assets portfolio
Advising Lloyds Bank and RBS on the sale of the Voyager passenger trains fleet to Beacon Rail, a division of JP Morgan.
Uniq Plc’s public takeover by Greencore
Advising the Pension Protection Fund, the largest shareholder in foods manufacturer Uniq Plc, on a disposal process for its stake culminating in the recommended £113m public takeover offer by Greencore.
Subsea 7 acquisition of Siem Offshore Construction
Advising Oslo-listed Subsea 7 SA, a global leader in seabed-to-surface engineering, construction and services on its €140 million acquisition of submarine cabling business, Siem Offshore Contractors GmbH, and two specialist cabling vessels.
Sale of Birmingham’s tallest tower project
Advising pan-European real estate investor Patrizia on the sale of Birmingham’s tallest office tower project to Tristan Capital Partners.
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Joint ventures
Ben has extensive experience in advising on joint ventures, whether it be their formation, termination, the exit or entry of a party or the transfer of stakes between the existing parties. He has advised on joint ventures involving financial and operating parties. Key transactions include:
3 Step IT strategic partnership with BNP Paribas
Advising Finnish-based 3 Step IT on its strategic partnership with BNP Paribas Leasing Solutions to create a leading integrated IT leasing business across various European jurisdictions.
SMT Shipping joint venture with CSL Group
Advising SMT Shipping on the sale of 50% of Eureka Shipping, a pneumatic cement vessel business, to CSL Group to create a joint venture designed to combine their respective expertise, resources and technologies to expand services to customers in the global seaborne cement powder and fly ash transportation markets.
Welsh Power Group joint venture with Octopus Investments
Advising Welsh Power on a joint venture with Octopus Investments to build and operate a series of sub-25MW power plants across the UK, now a market leader in ‘peaking power’.
Transpetrol Shipping investment in Avance Gas joint venture
Advising Transpetrol Shipping on its investment into Avance Gas, an existing joint venture between Stolt-Nielsen and Sungas, to create one of the largest VLGC fleets. Subsequently advised Transpetrol Shipping on its exit from the joint venture.
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Joint ventures
Private equity
Ben has advised UK and international venture capital and mid-market private equity houses, as well as management teams and corporates transacting with venture capital/private equity houses and their investee companies. Key transactions include:
Sale of OneCom to LDC
Advising the founders of OneCom Group, the UK’s largest independent business telecoms provider, on a £100 million investment by LDC and Ares.
Brockwell Energy hive out from Hargreaves Services Plc
Advising the management team of Brockwell Energy on its hive out from Hargreaves Services Plc in a deal backed by Pioneer Point Partners and Davidson Kempner, to develop an £800m portfolio of energy projects.
Fitness First sale by Oaktree Capital
Advising the management team of Fitness First UK, a leading UK gym chain, on its sale by Oaktree Capital to DW Sports following a competitive auction process.
Venture capital funding rounds for Lovefilm and sale to Amazon
Advising VC house Arts Alliance on its initial investment in Lovefilm and advising Lovefilm on various stages of its growth through to its ultimate sale to Amazon.com.
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Private equity
Restructuring and insolvency
Ben advises on the corporate aspects of solvent and insolvent restructurings and acts for corporates, directors, insolvency practitioners and other stakeholders. Key transactions include:
Uniq Plc’s ground-breaking pension deficit-for-equity swap
Advising the Pension Protection Fund on the innovative restructuring of Uniq Plc’s £400 million pension deficit whereby its pension funds took a 90% equity stake in return for releasing the deficit.
Disposal by receivers of Allco’s shipping fleet to Lomar Corporation
Advising Ferrier Hodgson as receivers of Australian listed Allco Finance Group on the disposal of its 26 vessel shipping fleet to Lomar Corporation in a deal valued at $325 million.
Acquisition by Baker Tilly of RSM Tenon Plc’s business and assets
Advising Baker Tilly LLP on its acquisition of the business and assets of London listed RSM Tenon Plc via a pre-pack administration to create the UK’s seventh largest accountancy firm.
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Restructuring and insolvency
Corporate
Ben has extensive corporate experience focusing on public and private M&A, joint ventures, capital raising, restructurings and general corporate advice, often with cross border elements. He advises in a wide range of industries, particularly consumer, energy, pharmaceuticals and transportation. Key transactions include:
BDO and Moore Stephens merger
Advising Natwest on the corporate aspects of acquisition finance facilities advanced to BDO on its acquisition of Moore Stephens to create the UK's fifth largest accountancy firm.
Sale of Mack Brooks Exhibitions to RELX Plc
Advising on the sale of leading industrial exhibitions business, Mack Brooks Exhibitions, to FTSE 100 publishing and exhibitions company, RELX Plc, in an auction process.
Acquisition of social gaming business
Advising South Korea's Bagelcode on its £18m acquisition of the social gaming business of Jackpot Joy Group.
Subsea 7 acquisition of Siem Offshore Construction
Advising Oslo-listed Subsea 7 SA, a global leader in seabed-to-surface engineering, construction and services on its €140 million acquisition of submarine cabling business, Siem Offshore Contractors GmbH, and two specialist cabling vessels.
Vistra Group acquisition of Jordans
Advising Vistra Group, a leading global trust, fiduciary, fund and corporate services provider, on its acquisition of Jordans, one of the largest UK company formation agents and providers of corporate and commercial legal expertise and compliance services.
HNA Group acquisition of TIP Trailers from GE
Advising HNA Group, the Fortune 500 Chinese conglomerate, on its €480 million acquisition from GE of the TIP Trailers logistics business with operations across 16 European jurisdictions.
Uniq Plc’s public takeover by Greencore
Advising the Pension Protection Fund, the largest shareholder in foods manufacturer Uniq Plc, on a disposal process for its stake culminating in the recommended £113 million public takeover offer by Greencore.