MBR&M gells over Omega deal

Newly merged transatlantic firm Mayer Brown Rowe & Maw has cemented its tie-up by advising on a $500m (£318m) private equity deal from its London and Chicago offices. The two offices advised US healthcare company Omega Worldwide, which was sold to Alchemy Partners backed by Four Seasons. This was the first time the UK side of the merged firm had acted for Omega.
As part of the same deal, Four Seasons bought Jersey-based Principal Healthcare Finance and took on £300m in existing debt. Omega owns 10 per cent of the shares in Principal Healthcare.
Omega Worldwide is a provider of investment advisory and management services as well as debt and equity capital to the healthcare industry in Europe and the Pacific Rim. Omega is a longstanding client of Mayer Brown Chicago partner Ed Schneidman, who led the US aspects of the deal. Mayer Brown London partner Andrew Copley led the UK-based team.
The acquisition means Four Seasons is now the UK's second largest healthcare provider, outgunned only by Bupa. The deal sees Four Seasons take control of 400 care homes with 18,000 beds. The group will now have a turnover of about £300m.
Chicago-based Mayer Brown & Platt merged with City firm Rowe & Maw in February this year.
Copley said: “This deal is a great example of our ability to handle international deals and now to provide transatlantic advise to clients.”
White & Case advised Four Seasons on the US side of the acquisition. Macfarlanes, the main UK adviser to Alchemy Partners, advised Four Seasons in the UK. Principal Healthcare was advised by Reed Smith Warner Cranston.