Travers Smith private equity partners Phil Sanderson and Lucie Cawood have advised Exponent Private Equity on the sale of The Ambassador Theatre Group (ATG) to Providence Equity Partners. Edmund Reed separately advised the executive management team of ATG on the terms of their re-investment.

Exponent Private Equity is a long standing Travers Smith client.  Exponent bought ATG in 2009 and has retained a minority stake in ATG as part of the deal and will continue to work with Providence and the existing management team, including ATG's joint CEOs and co-founders Sir Howard Panter and Rosemary Squire.

ATG is British theatre's great commercial success story.  The company has grown to be the world's number one live-theatre group with a total of 40 venues in Britain and on Broadway and an internationally recognised theatre producer with co-productions in New York, across North America, Europe, Asia and Australia.

The Travers Smith team was led by private equity partners Phil Sanderson and Lucie Cawood and included Victoria Bramall (corporate associate), Simon Skinner (tax partner), Danny Peel (banking partner) and Richard Brown (commercial partner).  Edmund Reed was assisted by David Wall (corporate associate) and Russell Warren (tax partner).