Lathams & Watkins, Linklaters and Herbert Smith Freehills have all won roles advising on The Carlyle Group and Euromoney Institutional Investor’s acquisition of Dealogic.
The Washington DC based private equity giant agreed to acquire the software and data company Dealogic for $700m, alongside two other co-investors – online information and events group Euromoney, and, co-founder and former CEO of Capital IQ, Randall Winn.
Latham & Watkins’ cross-border team advised Carlyle, led by London corporate partners Mike Bond and Richard Butterwick, and Washington DC corporate partner David Brown, with advice on financing matters by fellow Washington-based partners Jeffrey Chenard and Scott Forchheimer, and London partner Dominic Newcomb. Herbert Smith Freehills advised Euromoney with partners Mark Bardell and Howard Murray.
Linklaters advised Dealogic with London senior corporate partner Charlie Jacobs leading the team alongside corporate partner Nick Rumsby, and Scott Sonnenblick out of New York.
Barclays Capital and JP Morgan provided financial advice to Carlyle, while Investec acted as financial advisor to Dealogic, and Gleacher Shacklock acted for Euromoney.
Carlyle will be the controlling shareholder in Dealogic with its equity for the transaction coming from its $13bn US buyout fund Carlyle Partners VI. Dealogic’s long-serving chief executive Tom Fleming will continue in his leadership role.
Euromoney will acquire 15.5% of the equity of Dealogic for $59.2m, funding the investment through the sale Capital DATA and Capital NET, valued at $85m, and which Dealogic and Euromoney have jointly operated since the 1980s. In addition to its $59.2m share, Euromoney will also receive $4.6m in cash on completion and a further $21.2m of zero-coupon preference shares issued by Dealogic.
The transaction, which is expected to close by the end of 2014, is structured as a leveraged buyout by Dealogic and is subject to customary regulatory approvals.