Lovells corporate partner Marco Compagnoni has won the firm a major new client via his role in the demerger of the Smiths Group's Automotive Systems Division (ASD)
Compagnoni's team is advising TI Automotive, which is being demerged as an unlisted, independent company. The instruction is a blow to Freshfields Bruckhaus Deringer, which advised the TI Group at the time of its acquisition by Smiths. Compagnoni pitched for the work following a recommendation by JP Morgan's managing director of global markets, Europe, Bernard Taylor. JP Morgan is underwriting the senior debt facilities. Smiths is being advised by Allen & Overy corporate partner David Wootton. It is understood that at least one other firm pitched for the work. Compagnoni said: "This is a very important piece of work - very complicated and difficult. TI represents a major new client that we hope to do more with. We're always looking to extend our client base and attract high-profile and high-quality work like this."