SJ Berwin has underlined its strategy to expand its client base in the finance sector by advising the lead arranger on the Chrysalis Radio LBO.
The firm, led by finance partner, Stuart Brinkworth, advised Bank of Scotland as the lead arranger for the £170m LBO of Chrysalis Radio by Global Radio UK an investment vehicle backed by private equity fund Lydian Capital.
Brinkworth, who joined the firm from McGrigors in March this year, led the team on the deal which is the first LBO, SJ Berwin has advised Bank of Scotland on.
“This is a very interesting deal for us to have advised on. In acted for RBS as part of a syndicate advising on a £230m debt facility for the funding of Care UK’s acquistion of Care UK. HBOS were involved in this deal and since requested for us to advise on this transaction,” Brinkworth said.
Last month (23 July) The Lawyer reported on SJ Berwin’s drive to double the number of partners and turnover of its entire finance team. The aim is build up a practice group with equal strength to the firm’s successful private equity team.
Brinkworth commented: “We have been very busy and have successfully built a strong team in finance. There is definitely much more of a focus on the team and making sure our finance practice is as strong as it can be.”