Leading global law firm Baker McKenzie has advised Barings and Ardian Private Debt as unitranche lenders on the financing package put in place to fund Macquarie Principal Finance's public-to-private acquisition of Premier Technical Services Group Plc ("PTSG"), a market leading B2B provider of safety-critical specialist testing, inspection, compliance and installation services. Rothschild acted as financial adviser to the bidder.
PTSG has established itself as one of the UK's leading providers of specialist health and safety testing services, including fire safety, lightning protection, electrical testing, façade access and fall arrest equipment services to a broad range of blue chip customers. Headquartered in West Yorkshire, England, PTSG employs around 1,200 people across 31 sites, servicing more than 180,000 buildings in the UK, across a wide range of industries.
The Baker McKenzie team was led by London Leveraged Finance partner, Matthew Smith, with support from Corporate Finance partner James Thompson, Leveraged Finance associates Nick Cusack, James Clarke, Joe Denyer and trainee solicitor Georgana Christodoulou. The team also included Tax partner James Smith and senior associate Holly Bradley.
A separate Baker McKenzie team led by London Leveraged Finance partner Bevis Metcalfe, and assisted by associate Emily Rothfield, advised Lucid Agency Services Limited as Agent in connection with the financing aspects of the transaction.
Commenting on the deal, Leveraged Finance partner, Matthew Smith said, "We are delighted to have worked with Barings and Ardian on this deal which is one of a growing number of public-to-private deals in Europe to be direct lender funded. It is also another fantastic deal for our London Leveraged Finance team to be involved in, having advised on a number of well publicised, market leading transactions so far this year"
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