Travers Smith has successfully advised Macquarie Bank on the £1.822bn consortium bid for the travel concessions business of the world’s largest contract catering group, Compass.
Macquarie and Swedish private equity firm EQT Partners, represented by Linklaters, led the consortia of investors on the premium purchase of Select Service Partner (SSP).
Travers’ corporate finance partner Spencer Sum-merfield and corporate partner Richard Spedding led the team advising Macquarie. Partners Tom Purton, Jeremy Walsh Alasdair Steele and Julian Bass also advised.
Linklaters corporate M&A partner Carlton Evans and Sweden-based private equity head Krister Hansen represented EQT.
The transaction was structured as a combined sale of the UK motorway service business to a consortium led by Macquarie Bank and the remainder of the SSP business to companies controlled by EQT on a debt and cash-free basis.
Compass was represented by longstanding adviser Freshfields Bruckhaus Deringer.