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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Two US firms have secured the lead roles on American Apparel’s sale of an 18 per cent stake to private equity house Lion Capital.
Regular American Apparel adviser Skadden Arps Slate Meagher & Flom is advising the US retailer on the deal, which will see Lion Capital pump $80m (£56.65m) into the company. Skadden partners Jeff Cohen, David Reamer and David Eisman are leading the team.
Lion Capital is being advised by Simpson Thacher & Bartlett partner Katie Sudol. This is the first public deal the firm has advised Lion Capital on since the UK private equity group launched in the US in 2008.
“It’s a very exciting new relationship,” said Sudol. “Given the economic conditions we see there being a lot of private equity activity of this type in the near future.”
Cohen said: “We’ve been working with American Apparel since the summer of 2007. We’ve been involved in a lot of their debt financing work since last year.”
In 2007 Skadden advised American Apparel on its acquisition by Endeavor Acquisition Corp, with Eisman and Cohen leading the team as relationship partners for the retailer.
Commenting on Lion Capital’s investment, Cohen said: “This really does provide American Apparel with the flexibility and ability to address prospects for growth for the future.”