A&O new boy secures charterhouse deal

Allen & Overy‘s new private equity partner Derek Baird had a lot to celebrate last week. Within three weeks of arriving at One New Change, Baird has completed a follow-on deal for key client Charterhouse Capital Partners. The private equity house, which instructed Baird regularly during his time at his former firm Lovells, turned to him on its disposal of baby care products business Avent. Baird advised Charterhouse when it bought Avent last year. Avent, which manufactures bottle, breast and toddler feeding products, will be sold to Royal Philips Electronics for £460m. Philips was advised by Sullivan & Cromwell London-based partner Craig Jones. The deal, which is subject to regulatory approval, is expected to close in the third quarter of 2006.