UK’s largest ever and Europe’s third largest ever private equity led software buyout

Ropes & Gray has advised Intermediate Capital Group (ICG) on its £1.3bn joint partnership investment – alongside HG Saturn Fund – into IRIS, a leading provider of business-critical software and services to the UK accountancy, education and business market. The deal is the largest UK and third largest European private equity software buyout ever.

Kirkland & Ellis is advising Material Handling Systems, Inc., a portfolio company of Thomas H. Lee Partners, in its pending acquisition of VanRiet Material Handling Systems from Avedon Capital Partners and management, for an undisclosed sum. VanRiet, headquartered in the Netherlands, is a leading global provider of integration systems, equipment and after-market services solutions. The transaction was announced on May 22, 2018.

The Kirkland team was led by Chicago-based corporate partner Ted Frankel and London-based corporate partner Andrej Wolf and associate Andy Gray.

Zurich – The CCC Group has signed an agreement to acquire 70% of the shares in Karl Vögele AG, Uznach. Simultaneously, Max Manuel Vögele, executive Chairman of the Board of Directors, increases his stake in Karl Vögele AG, Uznach from 10% to 30%. The transaction is expected to close by the end of the first half of 2018.

Mishcon de Reya acted for a joint venture between Delancey’s DV4 client fund and the LRC Group upon the sale of the iconic Royal Mint Court site to the People's Republic of China.

Located on the edge of the City, overlooking the River Thames, and opposite the Tower of London World Heritage Site, the history of the property can be traced back to 1349 and The Royal Mint, previously housed in the Tower of London, moved to the site in 1809.

US$2.76 billion deal is among the largest private equity exits in South Korea.

Sidley represented C.H.M.T. Peaceful Development Hong Kong Fund Management Limited (C.H.M.T.) as Hong Kong counsel in connection with the US$5.2 billion acquisition of The Center, a 73-story landmark office tower in Hong Kong formerly owned by tycoon Li Ka-shing. C.H.M.T. advised a special purpose vehicle set up for the acquisition, which is backed by a Chinese-led consortium. Sidley advised C.H.M.T.

Simpson Thacher represented United Group B.V. (“United Group”), a KKR portfolio company, in connection with the solicitation of consents from the holders of United Group’s 4.375% Senior Secured Notes due 2022 (the “Notes”) to waive and approve an amendment to certain provisions contained in the Notes, as set forth in the consent solicitation statement dated May 3, 2018.