Paul Hastings Represents Arrangers and Funds in £2 Billion Acquisition of Ultra plc
London – Paul Hastings LLP, a leading global law firm, advised the senior arrangers and funds in relation to the financing for Advent International’s £2.67 billion, public-to-private acquisition of Ultra plc.
The debt financing comprised a package of senior secured TLB and RCF, privately placed senior unsecured notes and privately placed floating rate PIK toggle notes.
Paul Hastings advised 12 banks and six funds on the structure – Barclays Bank, BNP Paribas, Credit Suisse, HSBC, Morgan Stanley, Royal Bank of Canada, Jefferies, Lloyds of London, Sumitomo Mitsui, Goldman, Natwest, and Unicredit as senior arrangers and Broad Street, Goldman MBD, KKR Credit, Canyon, Albacore and Carlyle Credit as preferred notes providers.
The team was led by London-based finance partner Luke McDougall, and included partners Edward Holmes, Peter Hayes, Jamie Holdoway, David Ereira, Jiten Tank, David Makso, and Alex Leitch, as well as associates Andrew Lowndes, Ludovico Giannotti, Lorenzo Colombi-Manzi, Andro Atlaga, Valmir Merkaj, Kassia Lewis-Deboos, Ricardo Maggi Novaretti, Alon Blitz, and Luke Kinrade.
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