CMS Cameron McKenna and Travers Smith have won roles on 3i’s secondary sale of NSL Services Group to ACC Capital Partners.
Camerons advised ACC on its agreement to purchase a majority stake in the parking company for £120m.
The firm’s corporate chief Andrew Sheach led on the deal, with a team including banking partner John Naccarato and pensions partner Mark Atkinson.
This is the fourth deal the firm has advised ACC on, having previously worked with the private equity house on its investment in Martindale Pharma and exits from TGI Fridays
Travers private equity head Philip Sanderson advised 3i on the deal, with partner Paul Dolman advising NSL’s management. Tax partners Simon Skinner and Russell Warren, banking partner Andrew Gregson and competition partner Nigel Seay were also involved in the matter.
Travers has a longstanding relationship with 3i and advised the private equity house on its acquisition of the company in 2005, when it was still part of NCP.
When NCP was sold to Macquarie Bank in 2007, with 3i retaining its interest in NSL, Travers partner Alan Giddins advised.
UK company NSL focuses on street parking management, working on behalf of more than 50 local authorities in the UK, including most of the large London boroughs as well as those in Manchester and Edinburgh.