A&L Goodbody and Fried Frank join CC on Permira acquisition

A&L Goodbody, Clifford Chance and Fried Frank Harris Shriver & Jacobson have landed the mandates advising private equity house Permira on its acquisition of a majority stake in Irish healthcare equipment manufacturer Creganna.

Jonny Myers
Jonny Myers

Clifford Chance led the deal for longstanding client Permira, fielding a team fronted by M&A partner Jonny Myers. London competition head Alex Nourry and banking partners Jessica Littlewood and Alan Inglis also featured.

The €220m (£194m) deal is the latest in a string of recent acquisitions on which the magic circle firm has been instructed by Permira, with the private equity house one of several to have shown signs of recovery in recent months.

M&A partner Joel Ziff led on Permira-owned food group Birds Eye Iglo’s €805m purchase of Findus Italy in July. A Clifford Chance team led by Hong Kong private equity partner Simon Cooke also had a role on a deal to buy Asia Broadcast Satellite last month (The Lawyer, 20 September).

It is thought that Permira has more deals in the pipeline, with a source close to the firm claiming it “still has a couple of billion left” in active funds.

A&L Goodbody won the mandate to advise Permira on the Irish aspects of the deal, with corporate chief Sheena Doggett leading. Fried Frank acted on US aspects, led by New York corporate partner Christopher Ewan.

Creganna, which develops and produces catheters and needles that are designed especially for minimally invasive surgery, turned to local firm Eugene F Collins and US outfit Schiff Hardin for advice on the transaction.

Corporate partner Steve Isaacs led the deal for Schiff Hardin, while corporate partner Nicola McGrath took the role for the Irish firm.