Taylor Wessing’s private equity team advises on SitexOrbis acquisition

Taylor Wessing’s private equity team has advised on the acquisition of SitexOrbis’s mainland UK business from VPS Holdings — a company backed by TDR Capital — by a newly formed company advised by investment firm Sullivan Street Partners.

SitexOrbis is engaged with the business of securing vacant property for landlords with revenues of circa £30m.

The transaction follows a ruling in summer 2012 by the Competition Commission that required VPS Holdings to dispose of SitexOrbis’s mainland UK business after its acquisition of the SitexOrbis group. The deal value is confidential.