Travers steers 3i lingerie purchase

Travers Smith has lent its support to private equity house 3i in the purchase of a £60m majority stake in designer lingerie chain Agent Provocateur.

Corporate partner Chris Hale, who manages the relationship with 3i at Travers, led the purchase alongside corporate partner David Innes.

Husband-and-wife founders of Agent Provocateur Joseph Corré and Serena Rees sold their majority stake after separating.

They were advised by Hammonds, Davenport Lyons and Goodman Derrick, with corporate partners Richard Burns, Rebecca Ferguson and Tanya Shillingford leading respectively.

Management was advised by Pinsent Masons, with corporate partner Tom Leman leading. Manches also co-advised, with corporate finance partner Melvin Pedro heading the team.