A Travers Smith team, led by Private Equity partner James Renahan, has advised all selling shareholders, including Phoenix Equity Partners, on the sale of NFT Distributions Operations Limited ("NFT"). NFT is the UK market leader in chilled food distribution and has been sold to EmergeVest (a private investment boutique).

Phoenix Equity Partners, advised by Travers Smith, first invested in NFT in 2006 when NFT was acquired from Northern Foods by way of management buy-out. Phoenix Equity Partners has supported the organic expansion of NFT, driven by significant investment in chilled warehousing capacity and distribution facilities, such that NFT has 7 UK distribution centres and approximately 2,000 employees.

The Travers Smith team advising on the transaction included Tax partner Kathleen Russ, Banking partner Andrew Gregson and Private Equity associate Priya Chaudhuri.

The management of NFT, who have re-invested in the buying vehicle, were advised by Robin Johnson of Eversheds LLP.

EmergeVest was advised by a team at Ashurst led by David Carter.