The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
CVC's investment director, Bart Meuter, told The Lawyer: "We're not married to any firm. It's important that banks feel comfortable with the lawyers, so we tend to use international rather than only Dutch firms."
On this occasion, he said, ABN Amro, Lehman Brothers and Merrill Lynch had chosen Clifford Chance. CVC picked Herbert Smith and Stibbe because the Wavin management had been happy with Stibbe's work in the past, said Meuter.
CVC initially bought a 43 per cent stake in Wavin from Shell in 1999, increasing its stake to 81 per cent in 2005.
The Herbert Smith and Stibbe team won the instruction through a beauty parade, beating off four firms. "I think CVC was impressed with our track record," said Wells. "We've done a great number of Dutch equity capital markets deals together, and I think that's one of our strengths."
Most recently, Kersten and Wells led on the e540m (£363m) IPO of Tom Tom, one of the largest floats of a technology company in Europe over the past five years.
Wavin began trading on 12 October at e11 (£7.39) a share, at the bottom of its indicative price range.