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Deals |
37 |
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DEAL ANNOUNCEMENT |
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Dow Schofield Watts LLP has advised on management buy-out of Parasol Limited funded by Inflexion Private Equity and HSBC |
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No. |
DATE COMPLETED | PRICE PAID | HOW SATISFIED |
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37 |
16 October 2006 |
£24 million |
n/d |
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DESCRIPTION OF THE BUSINESS AND THE DEAL |
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Dow Schofield Watts has advised on the management buy-out of Parasol Limited funded by funds managed by Inflexion Private Equity, the management and HSBC. Parasol is the largest pure PAYE umbrella business in the UK employing over 6,500 flexible employees. Established in 2000, Warrington based Parasol provides services to freelance contractors in the IT, telecoms and related technology sectors. Inflexion- managed funds have invested £9.4 million for a majority equity position. Management, led by Rob Crossland has invested significantly and a £12 million debt package was provided by HSBC. |
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ADVISORS |
ROLE |
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| Dow Schofield Watts LLP | Investor – Financial Advisor | ||
| DLA Piper | Investor - Legal Advisor | ||
| KPMG | Investor – Financial Due Diligence | ||
| Addleshaw Goddard | Management - Legal Advisor | ||
| Pannone | Vendor - Legal Advisor | ||
| Ballard Campbell | Vendor - Financial Advisor | ||
