City firms tie up Yorkshire private equity transaction

Addleshaw Goddard, DLA Piper and Hammonds have completed an all-­Yorkshire private equity transaction for Phoenix Equity Partners.

Hammonds acted for Phoenix in its investment in automotive parts wholesaler Andrew Page Limited in a transaction valuing the ­business at £100m.

Hammonds partner and head of Leeds Jonathan Jones headed a corporate team that included senior associate Jayne Aarons and associate Rebecca Lewis-Davies.
Banking partner Richard Morton and associate Andy Fordham were also involved in the deal.

Addleshaws partner Yunus Seedat and associate Susie Siddall acted for the Andrew Page management, while DLA Piper Leeds-based partner Mark ­Chidley acted for lenders HSBC, RBS and LloydsTSB.

Phoenix is an independent private equity fund ­management business focusing on mid-market UK private businesses valued at up to £200m.

Jones told The Lawyer: “It was a really good deal to be involved in. It was very much a Yorkshire deal, involving Yorkshire banks, advisers and lawyers, and that was all quite ­gratifying.”