Rhone Capital instructs White & Case on €149m acquisition following Bagshaw hire

White & Case, Clifford Chance and Latham & Watkins advised affiliates of private equity house Rhone Capital on the acquisition of ASK Chemicals from a German joint venture between chemicals groups Clariant and Ashland.

The deal is thought to be worth about €149m, which includes €128m in cash and a €21m buyer’s note. 

White & Case received first-time instructions from Rhone on the deal, with the client having transferred from Linklaters alongside private equity partner Ian Bagshaw who quit the magic circle firm last October (17 October 2013). 

Bagshaw previously advised the New York and London-based private equity house on the acquisition of water and coffee company Eden Springs last June from Linklaters. Travers Smith advised the target on that transaction, which was based on an enterprise value of about €240m. 

This time round, Bagshaw was assisted by White & Case partners Jacqueline Evans and Rob Bennett assisted, alongside associates Steven Hannah, Sarah Bitcon, Jee Ha Kim and Henrik Wikstrom. 

Clifford Chance advised the lenders, led by Taner Hussain. Meanwhile, Latham & Watkins was instructed by joint-venture partners Clariant and Ashford, fielding corporate partners Dirk Oberbracht and Markus Krueger from its Frankfurt office. 

White & Case recently won a spot on HgCapital’s revamped legal panel last month, it is thought partly as a result of Richard Youle’s move from Linklaters alongside Bagshaw last year (18 March 2014).