Taylor Wessing’s Private Equity team has advised on the acquisition of SitexOrbis’ mainland UK business from VPS Holdings (a company backed by TDR Capital) by a newly formed company advised by investment firm Sullivan Street Partners. SitexOrbis is engaged with the business of securing vacant property for landlords with revenues of c.£30m.

The transaction follows a ruling in the summer of 2012 by the Competition Commission which required VPS Holdings to dispose of Sitex Orbis’ mainland UK business after its acquisition of the SitexOrbis group.

The deal value is confidential.

Private Equity partner James Goold, who led the transaction at Taylor Wessing, commented:

“We are delighted to have worked alongside Sullivan Street to deliver this transaction and to have done so in an extremely compressed timetable. Transacting at high speed is not uncommon, but navigating the deal under the auspices of a Monitoring Trustee lent it some novel features.”

Lawyers Emma Danks, James Goold, Timothy Davidson, Martin Yells, Gabriel Estevez, Robert Vidal, Alix Prentice, Christopher Ratcliffe, Jonny Bethell

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