Liverpool-based firm DWF has bagged a lead role advising Kwik Save on its £30m refinancing and expansion, acting opposite Linklaters, which retains Somerfield as a client despite the loss of its relationship partner.
Supermarket chain Kwik Save is in the process of purchasing 40 further stores from Somerfield. The move follows the investment of £30m from private investors in a last-minute deal to secure jobs for 3,000 employees.
DWF head of corporate in Liverpool Paula Park is heading the firm’s team. She previously advised acquisition vehicle Back to the Future, launched by a consortium led by chairman of the Peacock Group Richard Kirk, on its purchase of the Kwik Save brand and 184 stores from Somerfield in February.
Park said DWF was now Kwik Save’s leading outside counsel.
Linklaters also advised Somerfield on the original sale of Kwik Save, led by former relationship partner Raymond McKeeve. However, McKeeve left for US rival Kirkland & Ellis a month later.
As reported by The Lawyer (23 October), Linklaters has retained Somerfield as a client and is advising on its current sale. Corporate associate Aisling Walsh, property partner Mark Burgess-Smith and banking partner Jeremy Stokeld led the firm’s team.