Lovells has advised private equity house Kelso Place Asset Management on its acquisition of a company that owns a driving school just days after it went into administration.
Kelso Place acquired the business and assets of LVG, which include Red - the UK’s third-largest driving school - from administrator Andrew Stoneman at Menzies Corporate Finance.
Lovells corporate of counsel Amit Nayyar, who led the team advising the existing client of the firm, said: “There was a lot of work in a few days. Obviously we had to get in there quickly because the value of the brand was going to slip.”
Nayyar worked with insolvency partner Joe Bannister on the insolvency of LVG. Support was provided by corporate associate Michael Stewart and insolvency and restructuring associates Natasha Watson and Ed Mathison. Vanessa Hogan provided advice on employment matters and Stephen Elliott advised on property issues arising in relation to the transaction.
Partner David Ingram at Ingram Winter Green advised the administrators.