London – Mayer Brown has advised AURELIUS, the asset management group, on its acquisition of McKesson UK in a corporate carve-out from the US healthcare company McKesson Corporation. The deal has an enterprise value of £477 million and is AURELIUS’ largest deal to date. It also follows a string of successful carve-out transactions and operational transformation in the European mid-market.
McKesson UK, an established provider of healthcare businesses and services including Lloyds Pharmacy and AAH Pharmaceuticals, has more than 18,000 employees across its retail, digital, homecare and wholesale divisions.
“We were delighted to have assisted AURELIUS on this landmark transaction, which furthers the group’s reputation as an investor in corporate carve-outs,” said Mayer Brown partner Perry Yam, who led the firm’s cross-practice team.
The Mayer Brown team was led by Corporate & Securities partners Perry Yam and James West and included counsel Electra Callan, senior associate Katrina Murphy and associates Fraser Wylie, Alex Sperling and James Beattie; Tax Transactions & Consulting partner James Hill, counsel Kitty Swanson and associate Emma Noehrbass; Antitrust & Competition partner David Harrison and associate James Harrison, Financial Services Regulatory & Enforcement partner Chris Chapman; Intellectual Property partner Mark Prinsley, associates Valerie Vanryckeghem, Reece Randall and Ondrej Hajda; Real Estate partner Iain Roberts; Environment counsel Tim Baines; Employment partner Miriam Bruce and senior associate Sarah Reeve-Young; Pensions partner Andrew Block and Banking & Finance senior associate Ignacio Mirasol.