The Private Equity team at Gowling WLG has advised leading mid-market private equity firm LDC on its £17 million buy-out of Panther Logistics.
Northampton-headquartered Panther specialises in two-man and one-man assisted delivery services for major brands and retailers, including Dunelm, Silent Night and Bosch Siemens.reg
Gowling WLG advised LDC on its investment, the terms of Panther's acquisition, and the negotiation of new senior debt and working capital facilities with Santander.
Partner Jeremy Millington led the Gowling WLG team, supported by corporate associates Laura Dick and Charlotte Pitt. Principal associate Navin Prabhakar and associate Stephanie Brigham of the Banking team advised on the new bank facilities. Transaction Services specialists Greg Dunn and Matthew Dorman dealt with legal due diligence.
The LDC team was led by LDC Investment Directors Rob Schofield and Victoria Marcer.
Rob Schofield said: "The Gowling WLG team once again pulled out all the stops to ensure this deal was completed efficiently and on time. We count on them to deliver commercially-focused legal advice, based on a solid understanding of our investment approach."
Jeremy Millington added: "We're thrilled to have advised longstanding client LDC on a further buy-out. Panther is a fast-growing business in a dynamic sector and this transaction demonstrates LDC's continuing delivery on its pledge to invest £1.2 billion in UK mid-market businesses over the next three years. We look forward to supporting LDC on further opportunities."
Gowling WLG's Private Equity team is experienced in advising private equity and venture capital investors on a full range of matters on the life cycle of an investment, combining technical excellence with in-depth market knowledge.
Howes Percival advised the selling shareholders of Panther, Clark Willmott advised Panther's management team and Santander was advised by Gateley.
Gowling WLG launched "Make way for the middle: the future shape of the UK economy" last month. The study forecasts and compares the growth trajectory of the trade of the UK's small, medium and large businesses. The results are remarkable, revealing a rebalancing towards the more vibrant mid-market.