Skadden wins first Apax deal on back of B&M raid” />Skadden Arps Slate Meagher & Flom has scored it first-ever deal for private equity house Apax Partners as a result of its four-partner raid on Baker & McKenzie (B&M) late last year.
Skadden advised trophy client Apax on its $680m (£389.1m) acquisition of VersaTel Telecom International’s German operations.
Skadden partners Matthias Jaletzke and Mark Darley led on the transaction. The deal is a coup for Skadden, which set up a Munich office in November last year with B&M partners Jaletzke, Walter Henle, Bernd Mayer and Peter Veranneman. Winning Apax as a client is justification enough for Skadden’s raid.
The VersaTel deal will be funded by a combination of equity and debt financed by ABN Amro. Linklaters, led by partner Gideon Moore, ad-vised ABN, while Stibbe partners Fons Leijten and Egbert Vromm acted for VersaTel.
Milbank Tweed Hadley & McCloy has also recently started to work for Apax in Germany after recruiting Peter Nussbaum from Freshfields Bruckhaus Deringer last June.
Skadden has also com-pleted its first German in-struction for longstanding client Doughty Hanson. The private equity house has bought German electrical technology group Moeller for e1.1bn (£760m) from private equity firm Advent. Julie Bradshaw led the Skad-den team for Moeller, while Lovells partner Joachim Habetha advised Advent.
Skadden has confirmed its place as the lead corporate adviser to Doughty Hanson this year by securing a number of deals in quick succession. They include advising on its £825m sale of the Priory Group and the £1bn flotation of its UK food manufacturing arm RHM.