Edwards Wildman and Freshfields Bruckhaus Deringer have won roles advising on New York-based private equity group Paine & Partners’ investment into Greek-based irrigation company Eurodrip.
The deal sees Paine, which invests in food and agriculture companies, acquire around 65.7 per cent of outstanding shares from Eurodrip’s owner Global Finance. The sale is valued at around $58m (£36.1m).
Edwards Wildman private equity partner Ted Cominos led for Global Finance with assistance from London-based private equity partner Shawn Atkinson and London tax director Michael McCormack.
The London office of Freshfields advised Paine, with the team understood to be led by dual qualified corporate partner Frank Miller.
Edwards Wildman turned to partner Evangelos Lakatzis of Greek firm A S Papadmitriou & Partners for local law advice, with managing partner Tolga Ismen of Turkish M&A firm Ismen as Turkish counsel.
Background to this deal:
Global Finance is a longstanding client of Cominos. The independent investment firm became a client of Edwards Wildman earlier this year, when Cominos joined the firm’s Chicago office from CMS Cameron McKenna, where he was international head of private equity (22 March 2012).
US and English-qualified Miller at Freshfields advised Paine & Partners on its acquisition of Scanbio Group in 2011.