Acquisition finance

Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Penny Angell
Hall of fameHogan Lovells International LLP
Penny Angell is our UK Managing Partner. Her own practice focuses on acquisition and leveraged finance and other complex corporate debt arrangements. Never one to adopt a "one size fits all" mentality, Penny has continually adapted to changing market dynamics and debt structures and has consequently advised on a wide array of leverage financings, including senior, mezzanine, PIK and unitranche/super senior financing arrangements on acquisitions and other leveraged finance transactions, including take-privates, bids, leveraged recapitalisations, and domestic and cross-border leveraged buyouts. Her commercial, solutions-based approach means she is equally at home advising borrowers and lenders (both banks and debt funds). She also has particular experience in the highly regulated area of insurance company financings. Penny brings a wealth of experience derived from a career that spans several credit cycles, enabling her to provide clients with practical, commercial advice on the key issues in structuring and documenting debt finance transactions. This is underlined by Chambers UK 2020, which notes that clients describe working with Penny is as a "flawless experience," because "she is committed and dedicated as well as highly experienced in her field." In previous years, Penny received the Europe Women in Business Law "Best in Banking & Finance" award. In addition to her client practice, Penny sits on the Financial Law Committee of the City of London Law Society, a respected industry body comprised of representatives from leading London law firms.
Ian Barratt
Hall of fameKirkland & Ellis International LLP
Ian Barratt is a debt finance partner in the London office of Kirkland & Ellis International LLP. Ian's practice focuses on domestic and cross-border acquisition financing and other leveraged finance transactions.
Christopher Kandel
Hall of fameMcDermott Will & Emery UK LLP
Christopher Kandel focuses his practice on leveraged, special situations and acquisition finance and restructuring matters under English and US law. He is considered one of the leading acquisition finance lawyers in London, with decades of experience in the London market. Chris has advised on a variety of landmark and notably innovative matters, including numerous European acquisition financings, a large number of take privates and bridge loans, the first super-senior revolver in Europe, the first pari passu secured bank/bond issue in Europe, the largest ever margin loan on unlisted shares, what was the largest (now second largest) LBO financing in Asia and the first Western-sponsor-style leveraged buyout financing in Russia. He was also singled out in the Financial Times 2016 European Innovative Lawyers report for his innovative work on the Pirelli take-private financing. Chris is often turned to because of his detailed knowledge of the differences between the mid market and large cap debt products and terms, as well as the changes required when European borrowers/transactions turn to the US leveraged finance market for liquidity. Read full biography: https://www.mwe.com/people/christopher-kandel/
Stephen Lucas
Hall of fameKirkland & Ellis International LLP
Stephen is a finance partner in the London office of Kirkland & Ellis International LLP and a member of the Firm’s Executive Committee. He has worked in the debt markets for over 25 years, advising on leveraged and other structured finance including recaps, bank/bond financings, distressed financings, margin loans, ABLs and other asset-backed financings.
Nick Syson
Hall of fameLinklaters LLP
Nick is a market-leading leveraged finance specialist. He acted on his first leveraged buyout in 1988, he set up the firm’s leveraged finance practice in 2001 with Gideon Moore and he was Co-Head of the Leveraged Finance Practice until 2016. Nick was elected by the Partners to the firm’s supervisory board for consecutive terms and he remains on the firm’s audit committee. He is also the firm’s Health and Wellbeing Partner. Within his practice, he advises arranging banks on financial sponsor-backed leveraged finance transactions and coordinating bank and steering committees on debt restructurings. He also advises on bank/bond financings. Nick has been involved in a number of pioneering developments in the leveraged finance sector, most recently acting for the underwriters on the financings for both the acquisition of Coty and the bid for MasMovil, being the financing transactions that reopened the European leveraged loan market post Covid19 and, prior to that, on a number of transactions that established and evolved the European cov-lite leveraged loan product. He has also acted on some of the early “Opco/Propco” financings (in which the finance is divided between operating companies and property-owning businesses), regulatory life insurance arbitrage transactions, transactions involving hedging uneven cashflows, infrastructure acquisition financings and numerous debt restructuring transactions. Nick was based in Singapore for two years where he focused on, and developed his knowledge of, regional debt restructuring.
Jonathan Brownson
Hall of fameCahill Gordon & Reindel LLP
Jonathan Brownson is a partner in Cahill’s Capital Markets & Lending group in London. He has extensive experience advising lenders on a range of domestic and cross border leveraged financings, as well as having restructuring and investment grade financing expertise.
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Daniel Borg
Kirkland & Ellis International LLP
Dan Borg is a partner in the London office of Kirkland & Ellis International LLP. His practice primarily focuses on advising private equity sponsors across a wide range of complex and multijurisdictional financing transactions, including leveraged finance, public and private holdco financings and restructurings.
James Boswell
Kirkland & Ellis International LLP
James Boswell is a debt finance partner in the London office of Kirkland & Ellis International LLP. He advises financial sponsors and borrowers on a wide range of complex financing transactions across the energy and infrastructure sector.
Alexander Griffith
Proskauer Rose LLP
Alex Griffith is a partner in Proskauer's Corporate Department and a member of Proskauer's Private Credit and Finance Groups. Alex’s practice focuses on leveraged finance and general debt finance work, advising senior, mezzanine, second lien, unitranche and other private capital providers. His extensive experience covers a wide range of transactions, including corporate refinancings, management buyouts and buy-ins, recapitalizations, institutional acquisitions, restructurings, public-to-private takeovers (both domestic and international), and other innovative, first-in-kind transactions involving private sources of capital. In addition, Alex advises financial sponsors, corporates and management teams on the raising of debt finance in the European Markets.
Malcolm Hitching
Macfarlanes LLP
Malcolm is a debt finance expert, and specialises in leveraged finance, specialty financings, restructuring and debt advisory work. He has considerable experience acting for sponsors, lenders, borrowers and financial advisers, and over the past 25 years has been involved in a great many deals across a wide range of industry sectors and geographies.
Kirstie Hutchinson 
Macfarlanes LLP
Kirstie acts for private equity sponsors and portfolio companies, corporate borrowers and issuers, credit fund and bank lenders, special situations investors and speciality finance providers on a range of financing transactions including investment grade, hybrid and leveraged financings and acquisition financings, dividend recapitalisations and capital restructurings. She has extensive domestic, European and global cross-border experience. Kirstie is a member of the Banking Law Committee of the International Bar Association and of the British-German Jurists Association. She is ranked by Chambers & Partners and by Legal 500 2021 as a “Leading Individual” for both “Acquisition Finance” and “Bank Lending: Investment Grade Debt and Syndicated Loans”; and was named in “The Lawyer” magazine’s “Hot 100 2021” as “one of the City’s go-to banking and finance lawyers for private equity sponsors, corporate borrowers and credit funds”.
Paul Mullen
Hogan Lovells International LLP
As well as leading the firm’s Global Banking practice, Paul Mullen acts for both lenders and borrowers at the top end of mid-market sponsor-backed financings, Paul has been particularly involved with the development of the direct lending market in Europe, advising lenders on unitranche and other types of direct lending products (including first loss/second loss, second lien, and PIK) as well as banks providing working capital and other facilities alongside the funds. Paul's extensive experience and deep understanding of the market means that clients often call on him when they need advice on developing new and innovative products. As the head of our market-leading direct lending practice, he has built strong relationships with a range of major global debt funds including Ares, Barings, Permira Debt Managers, CVC Credit, EQT, Five Arrows, and Hayfin as well as banks and sponsors.
Kirsteen Nicol
Kirkland & Ellis International LLP
Kirsteen Nicol is a banking partner in the London office of Kirkland & Ellis International LLP. Her practice is primarily focused on representing sponsors and portfolio companies on complex, cross border leveraged financings. Kirsteen has a broad range of banking and debt finance experience, including syndicated and credit fund lending, leveraged acquisitions, take private transactions across Europe, corporate lending and general banking.
Sinead O’Shea
Kirkland & Ellis International LLP
Sinead O’Shea is a debt finance partner in the London office of Kirkland & Ellis International LLP. She has deep experience with a broad range of senior and subordinated financing structures, with an emphasis on infrastructure finance, leveraged acquisition finance, public to private transactions, capex roll-out facilities and syndicated corporate facilities.
Jo Robinson
Hogan Lovells International LLP
Banks, debt funds and borrowers turn to Jo when they need advice on a wide variety of financing structures such as senior, second lien and unitranche/super senior financing arrangements and PIK financings on acquisitions and other leveraged finance transactions. Jo is a young and dynamic partner in our banking team, where she focuses her practice on acquisition and leveraged finance transactions. Jo has been instrumental in developing our market-leading alternative lender practice and her close relationships with some of the very early debt funds in the UK market means she has been at the forefront of the development of the unitranche product, and indeed worked on one of the very first unitranche financings in the London market back in 2008. To deal with Jo is commercial, practical and user-friendly. In 2015, Jo was named in The Lawyer's 'Hot 100' list and in Financial News' '40 under 40 Rising Stars in Legal Services”.
Oliver Sceales
Linklaters LLP
Oliver brings significant experience in structuring and executing sponsor-backed leveraged acquisition finance transactions in the European market. Oliver’s particular focus is acting for financial sponsors on leveraged buy-outs across the capital structure. Oliver is the co-head of Linklaters’ Leveraged Finance practice. He has been a partner since 2016 and joined Linklaters’ banking team in 2006. Before joining the firm, Oliver worked for Allens, Linklaters’ integrated alliance partner in Australia.
Chris Shield
Kirkland & Ellis International LLP
Christopher Shield is a partner in the banking and finance department of the London office of Kirkland & Ellis International LLP. Christopher has banking and debt finance experience including domestic and cross-border syndicated lending, leverage acquisitions, investment grade lending and general banking.
Evgeny Zborovsky
Kirkland & Ellis International LLP
Evgeny Zborovsky is a partner in the debt finance team in the London office of Kirkland & Ellis International LLP. His practice focuses on advising private equity sponsors, portfolio companies and credit funds on cross border leveraged buyouts and other complex financing transactions.
Ross Anderson
Paul Hastings LLP
Ross Anderson is a partner in the Global Finance practice at Paul Hastings and is based in the firm’s London office. He has experience across a broad range of issues in banking law, with particular emphasis on matters relating to leveraged finance, private equity finance, and cross-border acquisition financing transactions.
Mohamed Nurmohamed
Paul Hastings LLP
Mo Nurmohamed is a co-chair of the Global Finance practice at Paul Hastings and is based in the firm’s London office. He has experience across a broad range of issues in banking law, with particular emphasis on matters relating to leverage finance and private equity finance transactions. Mr. Nurmohamed has particular experience in relation to cross-border acquisition and leveraged finance transactions. He was selected by Financial News as one of its 2014 40 Under 40 list of rising stars in the European legal profession. He has also been seconded to both J.P. Morgan’s credit team and Deutsche Bank’s leveraged finance team.
Edward Aldred
Cleary Gottlieb Steen & Hamilton
Edward Aldred is a Partner in Linklaters’ Banking Group with a wide range of skills and expertise across the spectrum of debt finance products and credit requirements, including in several key financial jurisdictions (including London, Dubai, Hong Kong and Singapore). Edward’s practice has particular emphasis on leverage and event-driven finance, including maintenance, covenant lite and incurrence-based loans, and high yield/loan bank/bond structures.  Edward regularly delivers training for the Loan Market Association, being involved in the delivery of their Leveraged Documentation and Leveraged/High Yield training days, hosting a panel discussion at the joint 2015 LMA/LSTA conference in London and recently presenting a “webinar” on an overview of the Loan Market Association leveraged facilities agreement.  Recent accomplishments include being rated as a “Rising Star in Legal Services” by the Financial News “40 under 40 Legal Services 2015” and being ranked in Chambers UK 2015 and 2016 (Banking & Finance) where he is described as having “unlimited energy”. Edward is also listed and profiled in the “Legal 500” (Finance & Acquisition Finance) being described as “technical and reliable”.  Notable transactions include advising the arrangers on: the financing of Nomad Holdings’ €2.6bn buy-out of Iglo Foods and the subsequent acquisition of Findus, the financing of Pamplona’s acquisition of Partner in Pet Food, the financing of Bain Capital’s acquisition of Wittur, the covenant lite loan refinancing of the Birdseye Group owned by Permira, the loan and high yield financing of KKR’s acquisition of SBB Telemach (Serbia), the loan and high yield refinancing of the Permira and Apax owned fashion retailer New Look, the loan and high yield financing of Apax’s acquisition of Orange Switzerland, the loan financing of Blackstone’s acquisition of Jack Wolfskin and the loan financing of CVC’s acquisition of ICD, and advising Rhone Capital on the high yield and loan refinancing of Eden Springs.
Luke McDougall
Davis Polk & Wardwell LLP
Luke McDougall is a partner in the Finance and Leveraged Finance practices at Paul Hastings and is based in the firm’s London office. Mr. McDougall focuses his practice on UK and cross-border acquisition finance and restructuring. He has experience acting for senior lenders, junior lenders and borrower groups on a variety of capital structures as well as, debt portfolio acquisitions and specialist financing transactions.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Sebastian FitzGerald
Skadden, Arps, Slate, Meagher & Flom (UK) LLP
Seb FitzGerald is a partner in Willkie’s Corporate & Financial Services Department and Finance Department in London. He has extensive experience in complex cross-border financings across a variety of sectors and credit products, focusing on leveraged buyouts, direct lending, restructurings and special situations investing. He has acted for a number of leading private equity sponsors and financial investors, corporates and creditors in the US and European financing markets including Cinven, CVC, Advent, BC Partners, Blackstone, TPG, Montagu, KKR, PAI Partners, Eurazeo, Silver Lake, Insight Partners and Goldman Sachs.
Pathik Gandhi
Linklaters LLP
Pathik has a wide range of experience advising arranging banks, credit funds, financial sponsors and corporates across the credit spectrum on leveraged and acquisition financings (both syndicated and private debt), infrastructure financings, NAV financings and restructurings. He has a particular focus on sponsor-backed and cross-border leveraged finance and acquisition financing structures, having worked on several covenant-lite TLB financings, direct lending / unitranche structures, infrastructure financings, NAV financings, bridge financings, public acquisition financings, bank / bond financing structures and financial restructurings.
Smridhi Gulati
Cadwalader, Wickersham & Taft LLP
Smridhi Gulati is a partner in Cadwalader’s Leveraged Finance & Private Credit Group. She advises UK and international lenders, including private credit funds, banks and other financial institutions, as well as private equity sponsors and corporates on complex lending through the capital structure primarily in relation to UK and cross-border acquisition finance transactions including private equity backed buyouts, management buy-outs, mergers and acquisitions, and refinancing and restructurings of leveraged assets.
Daniel Hendon
Proskauer Rose LLP
Daniel Hendon is a partner in Proskauer's Corporate Department and a member of The Private Credit and Finance Groups. Daniel’s particular areas of expertise are leveraged finance, general debt finance and debt restructurings in the middle market and upper market. Daniel’s practice focuses on acting for UK and international lenders (with a specialist focus on alternative lenders and private credit funds), private equity sponsors and corporates on a variety of UK and cross-border acquisition finance and corporate lending transactions, including private equity backed buyouts, management buy-outs, corporate M&A, refinancings and restructurings of leveraged assets involving senior, unitranche, first out / last out structures, second lien, holdco PIK and other subordinated facilities. Daniel has extensive experience in intercreditor and interlender issues and he regularly negotiates intercreditor and subordination agreements and other complex interlender agreements. Daniel has been a speaker at industry conferences.
Chris Medley
Linklaters LLP
Chris advises bank and fund clients on cross-border debt financings, refinancings and restructurings. He has a particular focus on sponsor-backed leveraged acquisition finance and routinely works on the largest and most complex sponsor-backed financing structures in the European leverage finance market, including term loan B financings, bank and bond structures, unitranche financings and post-IPO financings. Chris frequently works with, and is well known to, leading underwriting banks on underwritten term loan B financings and is likewise well known to direct lenders on unitranche financings. Chris was previously seconded to the leveraged finance and high-yield teams of JP Morgan and Citibank, which gives him a deep understanding of the internal workings of origination, credit and execution teams, allowing him to provide practical and tailored advice to bank, fund and sponsor clients. He also spent two years on secondment to the firm’s Madrid office and speaks Spanish.
Rohan Saha
Linklaters LLP
Rohan has a wide range of experience advising banks and credit funds across the credit spectrum on a number of products with primary focus on financial sponsor backed cross-border debt financings. He has worked on various financing structures and products, and is particularly well versed with incurrence based term loan B financings, unitranche / direct lending structures, super-senior revolving credit facilities, bank/bond structures and junior/subordinated credit products. He has advised creditors on some of the largest and most complex European leveraged finance transactions in the past few years. Rohan was seconded to the leveraged finance team at Credit Suisse in 2018 and is able to use the experience gained on the secondment to provide practical and tailored advice to bank and fund clients. Rohan is one of the diversity and inclusion champions in the banking department in London and is focused on promoting under-represented diverse talent within the firm. Rohan joined Linklaters in 2011 and joined the banking team in 2013.
Matthew Smith
Cadwalader, Wickersham & Taft LLP
Matthew Smith is a partner in Cadwalader’s Leveraged Finance & Private Credit Group in London. Matthew advises private equity sponsors, private credit funds, banks and corporate borrowers on leveraged and general finance transactions across a range of sectors. Matthew is widely recognised as a leading individual for private credit and direct lending transactions.
Philip Stopford
Cravath, Swaine & Moore LLP
Philip Stopford is a partner in Cravath's Corporate Department.  He focuses his practice on leveraged finance, acquisition finance, corporate finance and restructuring transactions, with a particular emphasis on cross-border financings.
Leading associates
Rising stars with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.

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