Addleshaw Booth scoops first work from Rutland

Addleshaw Booth & Co has won private equity house Rutland Fund Management as a new client

Rutland typically invests in troubled companies domiciled in the UK. The average size of its investments is between £20m and £150m.

London-based private equity partner Simon Pilling advised Rutland in relation to the £68m disposal of EVM Group, the owner of UK retailer Edinburgh Woollen Mill. EVM was sold to a newly formed company financed by Bank of Scotland Corporate Banking.

Pilling said: “We got to know Rutland well during a public-to-private transaction involving Wolstenholme Rink and we've maintained contact through our mutual connections with Openshaw. The Edinburgh Woollen Mill transaction was our first instruction for them and we're looking forward to working on many further deals.”

During the Wolstenholme Rink deal, which resulted in the creation of two separate entities – Woolstenholme Group and Openshaw – Addleshaws advised the management of both companies.