Olswang has advised the shareholders of premium restaurant group D&D London Limited, which owns over 30 restaurants in London, Leeds, Paris, New York, Istanbul and Tokyo, on its management buyout by LDC, the leading UK mid-market private equity house. As a result of the transaction LDC will buy-out vendors Conran Holdings Limited and private equity investors Caird Capital, with D&D's senior management team led by Des Gunewardena and David Loewi retaining their investment in the business.

This transaction will enable D&D to fund further domestic and international expansion as well as invest in and enhance its diverse portfolio of outlets, which includes some of London's most iconic restaurants, such as Coq d'Argent in the City, Quaglino's in Mayfair, the Bluebird in Chelsea and Plateau in Canary Wharf.  Other high-profile outlets include Skylon, on London's South Bank, Kensington Place and Launceston Place.

Olswang corporate partner and the firm's Head of Leisure, David Roberts said: "D&D are unique in the high end dining space. They really have no peer when it comes to sheer mass of premium dining offerings in London and key gateway cities around the world. It has thus been a great experience for the leisure team to be involved in what is probably the highest profile leisure M&A deal this year. Working with Sir Terence Conran and Conran Holdings, Caird Capital as well as the management team of Des and David has been a real pleasure for the team and we look forward to the group's continued growth under the watchful eye of LDC".

Des Gunewardena, Chairman and CEO of D&D London, commented: "Olswang have a fabulous reputation in the leisure industry and David never ceases to deliver ideas and leadership to our relationship. It has been great to work with his team which impressed across the board with their dedication and commitment. We look forward to growing with them going forward".

The Olswang team was led by Corporate Partner David Roberts, supported by a multi-disciplinary team including partner-elect Nick Crosbie, Associate Poppy Weston Davies and Trainee Solicitors Louise Forbes, Sean McKenzie, Adam Wright (all Corporate), Partner Graham Chase and Senior Associate Stephen Smith (both Tax), Partner Matthew Speed and Senior Associate Jacqueline Roodyn (both Property).  Partner Duncan McDonald (Private Equity) and lead associate Gordon Ker (corporate) acted for the senior management team on the negotiation of their equity documents with the MBO vehicle.

http://www.olswang.com/news/2013/04/olswangs-leading-leisure-team-acts-…