London - International law firm Mayer Brown has advised Värde Partners on the purchase of Bizspace Group, the UK provider of flexible business accommodation for approximately £138 million.

The US private equity firm acquired 100 percent of the shares and assets of the Bizspace group of companies, which included 97 multi-let properties in England and Scotland, and through its acquisition, substantially deleveraged the group’s balance sheet.

Mayer Brown Banking & Finance partner David O’Connor, said: "We were delighted to advise Värde Partners on this deal. The change in ownership will allow Bizspace to acquire new business centres and invest in current sites to further grow the company."

The Mayer Brown team was led by David O’Connor and included Real Estate partners Chris Harvey and Jeremy Clay, senior associate Robert Patterson, and associates Sam Harris, Nick Burch and Lizzie Butler, Corporate & Securities partner Jeremy Kenley and associates Jonathan Musker and Salma Daneshmand, Tax Transactions & Consulting partner Sandy Bhogal, senior associate Simon Slade and associate Alexander Goldsmith, Employment & Benefits partner Stefan Martin and associate Kayne Jonsson, Employment & Benefits – pensions associate Devora Weaver and IP associate Jonathan Dack.

Mayer Brown has previously advised Värde Partners on the financing of its acquisition of the £250 million Titan real estate portfolio from Aviva Commercial Finance.