Mayer Brown advised on all areas of the transaction including corporate, tax, IP, employment, competition, real estate, finance and environment.
Langholm Capital is a private equity fund which specialises in high growth consumer-facing businesses. Previous investments include Dorset Cereals, a brand which, following its re-launch under Langholm's ownership, became the number 2 muesli brand in the UK, as well as the fastest growing mainstream breakfast cereals company overall in 2007.
Langholm Capital will partner with Will Chase, the owner and founder of Tyrrells, who has retained a significant stake in the business. Tyrrells has grown rapidly, with sales of over £13m in the year to March 2008. Its products are distributed across the UK and abroad in farm stores, delis, and other upmarket outlets.
Oliver Wyncoll of Langholm Capital said: "Mayer Brown delivered what we needed to get the deal done in a very short timescale using their depth of specialist resources to cover off all aspects of the transaction; it was particularly pleasing to have had the debt documentation settled so efficiently and smoothly".
Alistair Bird, Partner at Mayer Brown, said: "Our private equity practice continues to go from strength to strength and we are delighted to have advised Langholm Capital on this high profile transaction. I am very pleased that our clients are benefiting from our cross-discipline focused approach to the private equity sector ".
The Mayer Brown team advising Langholm Capital was led by corporate partners Alistair Bird and Gary Cooper. The finance team was led by Nigel Wright. Also involved were Michael Cashman (Tax), Gary Bownes and Ben Henry (Real Estate) and Mary Bagnall (IP).
The transaction was completed on 11 April 2008.
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