CC tops the lot in Euro private equity

Partners from Clifford Chance, Lovells and Weil Gotshal & Manges have emerged as the leading rainmakers in the European private equity market.

Clifford Chance Luxem-bourg partner Charles Roemers topped the individual partner private equity value table, based on instructions from the bidder company for the period 1 July 2004 to 30 June 2005, according to Mergermarket.

Roemers, who specialises in international tax planning, was instructed on four European private equity deals totalling €8.5bn (£5.87bn) in the past year, most notably advising Deutsche Annington on its e6bn (£4.14bn) acquisition of E.ON’s real estate division Viterra.

Clifford Chance’s involvement in the sizeable Viterra deal also pushed another two of its partners involved in the transaction – Kerstin Kopp and Sandra Theil – into the top 10 individual value table.

The deal also assisted Clifford Chance to rank top of the law firm value table, while Freshfields Bruckhaus Deringer, which advised German utility E.ON on the Viterra deal, came in at second place.

However, the rankings are shaken up if calculated on volume, with Clifford Chance playing second fiddle to Linklaters, which advised on 48 deals compared with Clifford Chance’s 46.

Eversheds also makes an appearance in third place based on volume, having advised on 32 deals. But its total deal value, at €1.3bn (£898m), was not sufficient to get the firm into the top 20 firms ranked by value.

DLA Piper Rudnick Gray Cary similarly ranks within the top 10 firms based on volume after advising on 30 deals, but again the total value of €1.5bn (£1.04bn) fell short of the top 20 firms based on value.

The individual partner rankings are also overhauled if ranked by volume rather than value, with Weil Paris partner David Aknin, who joined from Linklaters in November 2003, taking first place after advising on 10 deals totalling €4.5bn (£3.12bn).

However, it was Linklaters partners that acted on the most deals on average, with global head of private equity Graham White and Paris partner Michael Frieh ranking second and third respectively after working on seven deals apiece.

This compares with Clifford Chance partner Simon Tinkler and Weil managing partner of London Michael Francies, who ranked second and third respectively based on value of deals.

Top 20 firms advising European private equity M&A, by value
Rank Law firm Value (€bn) Value (£bn) No of deals
1 Clifford Chance 36.29 25.05 46
2 Freshfields Bruckhaus Deringer 20.37 14.06 29
3 Linklaters 18.34 12.66 48
4 Weil Gotshal & Manges 15.51 10.71 23
5 Allen & Overy 14.16 9.77 23
6 Ashurst 13.90 9.60 31
7 Cleary Gottlieb Steen & Hamilton 13.18 9.10 12
8 Lovells 10.10 6.97 23
9 Shearman & Sterling 8.77 6.05 9
10 Latham & Watkins 8.48 5.85 15
11 Willkie Farr & Gallagher 7.33 5.06 11
12 Slaughter and May 6.57 4.53 6
13 Garrigues 6.55 4.52 5
14 Gorrissen Federspiel Kierkegaard 6.51 4.49 4
15 White & Case 6.30 4.35 24
16 Dickson Minto 6.15 4.24 9
17 Baker & McKenzie 5.93 4.09 15
18 Travers Smith 5.87 4.06 24
19 SJ Berwin 5.84 4.03 30
20 Darrois Villey Maillot Brochier 5.66 3.91 1

Source : Mergermarket

Top 10 lawyers advising European private equity M&A, by value
Rank Name Firm Value (€bn) Value (£bn)
No. of deals
1 Charles Roemers Clifford Chance 8.50 5.87
Advised Deutsche Annington Immobilien on e6.08bn (£4.2bn) acquisition of Viterra; advised European Directories on e1.83bn (£1.26bn)acquisition of Yellow Brick Road group; advised CVC Capital Partnerson e600m (£414.2m) acquisition of XSYS Print Solutions (previously BASF Printing Systems) and acquisition of ANI Printing Inks.
2 Simon Tinkler Clifford Chance 8.01 5.53
Advised Warburg Pincus on e334m (£230.6m) acquisition of Caradon Plumbing; advised PurusCo on e4.06bn (£2.8bn) acquisition of ISS; advised Texas Pacific Group on e1.01bn (£697m) acquisition of British Vita; advised CVC Capital Partners and Permira on e2.61bn (£1.8bn) acquisition of theAutomobile Association.
3 Michael Francies Weil Gotshal & Manges 7.00 4.83
Advised The Chatterjee Group on e4.4bn (£3.04bn) acquisition, with Access Industries, of Basell; advised Fortress Investment Group on e200m (£138.1m) acquisition, with Cerberus Capital Management, of Box Clever Technology Group; advised Hicks Muse Tate & Furst on acquisition of 39 per cent stake in Aster City Cable; advised Waren Acquisition one2.4bn (£1.66bn) acquisition of Warner Chilcott.
4 Oliver Felsenstein Lovells 6.17 4.26
Advised Deutsche Annington Immobilien on e6.08bn (£4.2bn) acquisition of Viterra; advised Quadriga Capital Beteiligungsberatung on e93m (£64.2m) acquisition, with Barclays Private Equity,of Jack Wolfskin.
5 Kerstin Kopp Clifford Chance 6.08 4.20
Advised Deutsche Annington Immobilien on e6.08bn (£4.2bn) acquisitionof Viterra.
6 Sandra Thiel Clifford Chance 6.08 4.20
Advised Deutsche Annington Immobilien (on e6.08bn (£4.2bn) acquisitionof Viterra.
7 Stephan Geibel Lovells 6.08 4.20
Advised Deutsche Annington Immobilien on e6.08bn (£4.2bn) acquisitionof Viterra.
8 Philippe Ginestié Ginestie Paley-Vincent 5.66 3.91
Advised Semad on e8.99bn (£6.21bn) acquisition of Galeries Lafayette.
& Associés
9 David Beveridge Shearman & Sterling 5.61 3.87
Advised PurusCo on e4.06bn (£2.8bn) acquisition of ISS; advised Apax Partners and Texas Pacific Group on e1.55bn (£1.07bn) acquisition of TIM Hellas Telecommunications.
10 Daniel Payan Willkie Farr & Gallagher 4.87 3.36
Advised Wam Acquisition on e4.35bn (£3bn) acquisition of Amadeus GlobalTravel Distribution; advised GS Capital Partners 2000 on e517m (£356.9m) acquisition of 16 per cent stake in Eutelsat.

Based on individuals instructed by the bidder on buyouts valued over e5m (£3.5m), announced between 1 July 2004 and 30 June 2005, where target is European. Includes lapsed and withdrawn bids.
Source : Mergermarket