Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised leading global institutional investor Canada Pension Plan Investment Board (‘CPPIB’) in connection with its potential equity investment in Elis SA (‘Elis’), which leads the market in the rental and maintenance of linens, professional garments, and hygiene and wellness equipment.

CPPIB manages the funds of the Canada Pension Plan, and as of 31 March 2017, the CPP Fund totalled CAD 316.7bn. Elis is in the process of making an offer for acquiring Berendsen, a European textile, hygiene and safety solutions business, which would create a Pan-European leader in textile, hygiene and facility services. The acquisition would combine Berendsen’s competitive position in Northern Europe with Elis’s strengths in the rest of Europe and in a number of high-growth markets.

The Freshfields team was led by partners David Higgins and  Alan Mason. This deal marks the second major transaction pertaining to CPPIB that Freshfields has advised on in the last six months. In April 2017, it was announced that a team led by David Higgins and Victoria Sigeti advised CPPIB, Cinven and Hotelbeds Group on their acquisition of GTA from the Kuoni Group.