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Herbert Smith Freehills has advised PA Consulting Group on a 51% investment by The Carlyle Group.
The investment values PA Consulting at US$1 billion and was implemented by way of a court-sanctioned Scheme of Arrangement, which became effective on 11 December 2015.
It is intended that the partnership with The Carlyle Group will enable PA Consulting, the UK headquartered specialist consultancy, technology and innovation firm, to build on its successes to date and accelerate its growth plan through geographic expansion and acquisitions, whilst at the same time retaining its culture, brand, ethos and values. In particular, PA Consulting will leverage Carlyle’s extensive global reach, industry expertise and worldwide business connections.
The Herbert Smith Freehills team was led by M&A partner Roddy Martin, supported by Ben Ward, Sophie Lenox, John Taylor and Imran Bhatia, with specialist inputs from Isaac Zailer and Casey O'Hara (Tax), Michael Aherne (Pensions), Paul Ellerman and Bradley Richardson (Share Schemes), Tim Leaver and Anna Law (Employment), Kristen Roberts and Elliott Beard (Finance) and Andre Pretorius and Alberto Martinazzi (Competition).
Roddy Martin commented:
"We are delighted to have advised PA on a truly transformative partnership for them, which will help them accelerate taking their business to the next level. We are also pleased that we have again been able to demonstrate our ability to deliver results for our clients on the most significant and complex matters".
Proskauer Rose LLP (Steven Davis, Liam Arthur and Lauren Bretton) were lead advisers to The Carlyle Group.