Linklaters has advised HgCapital and Manx Telecom on Hg's strategic exit from its investment which was achieved by way of an IPO of Manx Telecom's shares and listing on the AIM Market of the London Stock Exchange. Manx Telecom is a leading UK telecommunications operator based on the Isle of Man.

As part of the transaction Manx Telecom's existing debt package was refinanced with Linklaters also acting on the refinancing.

Linklaters previously advised HgCapital on the acquisition of Manx Telecom from Telefonica in 2010.

The successful IPO is the latest sign of private equity taking advantage of the strong equity markets.

The Linklaters team was led by private equity partner, Alex Woodward, corporate partner, Iain Wagstaff and banking partner, Adam Freeman.