Wragge advises on £20m HSBC deal
Who?
Birmingham law firm Wragge & Co’s banking and finance team.
Did what?
Has advised HSBC Bank on its involvement in a private equity-led buyout of a number of healthcare businesses.
What does this mean?
A team led by partner Chris Brierley acted for the bank on its provision of a £20m acquisition finance facility to Active Assistance Finance. The loan funded Active Assistance Finance’s acquisition of First Call Care Services and homecare agency Everyday Angels Special Needs Care from domiciliary care provider Enara. It has also financed its acquisition of healthcare business Active Assistance. Both Active Assistance and Enara are funded by independent private-equity provider August Equity.
Who advised?
Shoosmiths acted for Active Assistance Finance Limited and Pinsent Masons advised the vendors.
Insider comment:
The transaction took just ten days to complete and involved a complex "buy and build" structure. Wragge & Co is a member of HSBC's panel of preferred law firms in the UK. Previous instructions include advising on the £18m acquisition facility that enabled August Equity to complete a management buyout of Funeral Services Partnership Company.
