Hogan Lovells has acted as legal adviser to Rothschild on the sale of FALG to challenger bank, Paragon, for the sum of approximately of £117m. FALG specialises in print, broadcast, construction equipment leasing and finance, and leases vehicles to local authorities.

The Hogan Lovells team was led by Head of Private Equity Tom Whelan assisted by private equity partner Amit Nayyar, with associates Fraser Galloway and Dermot O Riordan supporting.

Commenting on the transaction, Tom Whelan, partner in the London Corporate practice and Head of Private Equity, said:  "It was excellent to work again for our longstanding client, Rothschild, on this important sale for them. I wish Paragon, as owners of the new business, and the FALG managers every success in their future development of the business."