This is Landwell’s first significant deal for its accountancy parent PricewaterhouseCoopers (PwC), and it came through a personal contact with PwC’s head of transaction services Paul Rawlinson.
It was a significant acquisition for his group as Coba is a company that specialises in providing strategic advice and commercial due diligence to private equity clients. It will combine with PwC’s existing practice to form a new strategy group of more than 50 consultants.
Rawlinson went to PwC and said that he would like to use Landwell instead of the company’s preferred firms, which include Barlow Lyde & Gilbert and Herbert Smith.
PwC makes very few acquisitions so the significance of this deal to Landwell is not so much the fact that PwC instructed it, but that it had a chance to make contact with the individuals in Coba. It will now try to get involved very early on in deals when companies are considering acquisitions. It is hoped that this will give them an advantage when pitching against rival law firms for future business.