Travers takes MBO role for promethean

Travers Smith has closed its third deal for private equity firm Promethean Investments, which was set up by Lovells just over a year ago.

The fund has bought a 30 per cent stake in the Enterprise Group’s management buyout (MBO), amounting to £8.5m, under the advice of Travers Smith corporate partner Paul Dolman, senior corporate assistant Moushumi Sharmacharja and senior tax assistant Hannah Manning.

Promethean, which has no in-house lawyers, has used Travers for all its deals so far, previously closing on the MBOs of Data Locator Group and Cambria Automobiles.