London — Mayer Brown has advised Rina SpA, the holding company of the multinational testing, inspection, certification and consulting engineering (TIC-CE) group, on the acquisition of the entire share capital of Edif Group Limited, a portfolio company of Phoenix Equity Partners and various management shareholders, for £118.5 million.
The acquisition, which will be funded through an equity capital injection from Rina’s financial shareholders and a new financing facility, will expand the group's geographical coverage by significantly increasing its presence in the UK, the US and German markets.
Edif is a leading worldwide provider of a diverse range of TIC-CE services that serve to reduce risk, optimise performance and enhance the capability of its clients’ assets. The combination of Rina and Edif will provide a higher level of technical expertise for its customers and a platform for further expansion.
Following regulatory approval, the acquisition is expected to complete in the second half of 2016.
The Mayer Brown team was led by Corporate Finance & Securities partner Colin Scagell and included Corporate & Securities senior associates Rebecca Bothamley and Megan Paul and associate Charlie Clendon; Tax Transactions & Consulting partner Sandy Bhogal, senior associate Benjamin Fryer and associate Kitty Swanson; Banking & Financial senior associate Doye Balogun; Employment & Benefits senior associate Laura Pharez; and IP associate Jonathan Dack.