Aled Batey

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is representing AutoScout24, the leading pan-European online automotive market place, on the financing of its announced acquisition of TRADER Corporation (“TRADER Canada”) from Thoma Bravo. In conjunction with this acquisition, funds affiliated with existing majority shareholder Hellman & Friedman (“H&F”) will make a meaningful incremental equity investment in AutoScout24. The transaction is expected to close in the fourth quarter of 2024. TRADER Canada operates Canada's leading online automotive marketplaces, English-language AutoTrader.ca and French-language AutoHebdo.net, with 26 million monthly visits, more than 450,000 vehicle listings, and 5,000 dealer partners. Founded in 1975 and headquartered in Toronto, the company also provides several automotive dealer software solutions under the AutoSync brand and operates Dealertrack, the leading Canadian portal connecting automotive dealers and lenders, as well as Collateral Management Solutions, the primary provider of lien and registration services, recovery services, and insolvency management solutions to Canadian lenders. AutoScout24 is the largest pan-European online car market, with over 2 million vehicle listings, around 30 million users per month and more than 43,000 dealer partners. As a comprehensive marketplace for mobility, AutoScout24 is making targeted investments in the growth areas of leasing, car subscriptions, electromobility and online car purchases. With this acquisition, AutoScout24 extends its presence outside of Europe and strengthens its position as a leading global online automotive marketplace. The cross-border Freshfields team was led by leveraged finance and capital markets partners Alex Mitchell, Aled Batey and Haden Henderson and senior associate Terrence Ayres. Advice on the equity investment and shareholder arrangements is being provided by partners Tim Wilmot, Mark Brewer and Arend Von Riegen, together with principal associate, Anna Dominke and senior associate, Alex Ryan. Partners Uta Itzen and Ermelinda Spinelli are advising on antitrust matters.  Counsel Greg Khan is advising on the hedging aspects of the transaction. This latest acquisition carries on Freshfields’ long-standing relationship with AutoScout24 and H&F, having advised H&F on its original acquisition of AutoScout24 in 2020 and more recently advising H&F on their sale of certain minority stakes in TeamSystem.

Aug 23

2 min

Global law firm Freshfields is advising longstanding client Cinven on its agreement to enter into a strategic investment in Grant Thornton Czech Republic. This latest transaction follows Cinven’s strategic investments in Grant Thornton UK and, subject to regulatory approvals and customary closing conditions, Grant Thornton Germany. Grant Thornton Czech Republic is a leading, innovative player in the high-growth Czech professional services market. Cinven’s investment will facilitate accelerated growth of the firm and facilitate closer cooperation with Grant Thornton UK and Grant Thornton Germany to strengthen the group’s position as a leading professional services firm in key European markets. The transaction is subject to anti-trust approvals and customary closing conditions. The Freshfields team advising Cinven was led by private capital partner James Scott with the support of senior associate Zoe Walker and associate Chin Wah Lai. Aled Batey led on debt financing with the support of senior associate Marie Boudard. Martin McElwee provided merger control and FDI advice. BBH, advokátní kancelář, s.r.o. advised on matters of Czech law.

Feb 5

1 min

El bufete de abogados internacional Freshfields Bruckhaus Deringer (‘Freshfields’) asesora al fondo inversor Cinven en el “Octavo Acuerdo de Cinven Fund” para la compra de una participación mayoritaria en idealista Global, S.A.  (‘idealista’), portal inmobiliario líder en España, a EQT, Apax, Oakley y distintos managers, entre otros. La transacción ha alcanzado un valor de 2.900 millones de euros, y se convierte así en la mayor adquisición de una empresa online en España. idealista es una compañía española fundada en el año 2000 que ofrece a través de Internet, entre otros, servicios de portal inmobiliario en España, Italia y Portugal. El equipo de Freshfields fue liderado por Armando Albarrán, socio responsable de Mercantil y Fusiones y Adquisiciones, quien ha contado con la socia Miriam Pérez-Schafer y los asociados Mario Pacini, Íñigo Ríos, Álvaro Luaces, Alberto Broseta y Adriana Fernández, todos del equipo de Mercantil y Fusiones y Adquisiciones. La counsel, Carla Gómez, y la asociada, Laura Cue, han asesorado en otros aspectos mercantiles. También han asesorado en la operación los socios Christopher Davis, Aled Batey y Ana López, del área de Finance; el socio, David Franco (Mercantil y Fusiones y Adquisiciones), el counsel, Ignacio Borrego (Público Administrativo), y el asociado sénior, Asís Martín de Cabiedes (Mercantil y Fusiones y Adquisiciones) en aspectos regulatorios; los socios Rafael Murillo y Natalia Gómez en los aspectos procesales; y en materia de competencia, el socio Álvaro Iza y el asociado sénior Luis Loras. Los aspectos fiscales de la operación fueron liderados por nuestra socia May Smith (Fiscal). Esta última transacción, pone de relieve la larga y sólida relación de Freshfields con Cinven, tras haber asesorado a Cinven en el “Sexto Acuerdo de Cinven Fund” para la venta de una participación mayoritaria en Partner in Pet Food, anunciada por nuestro equipo en el Reino Unido también el 27 de junio de 2024; así como, en su posición como accionista de MásMóvil, en la joint venture de MásMóvil con Orange por 19.600 millones de euros, la mayor operación de M&A en el sector de las telecomunicaciones en España.

Jul 2

2 min

Freshfields is advising international private equity firm Cinven on its majority investment in Grant Thornton UK, one of the UK’s leading diversified professional services firms offering audit, tax, and advisory services. Founded in 1904, Grant Thornton is one of the UK’s largest professional services firms, with over 240 partners and 5,500 employees across more than 20 offices. Cinven’s investment will support Grant Thornton’s strategy to drive growth through technology enablement, talent development, and expanding its leadership in the professional services sector. The transaction is subject to partner ratification, regulatory approvals, and customary closing conditions. A cross-practice Freshfields team in London advising Cinven was led by private capital partners James Scott and Alastair Brown, with leveraged finance partner Aled Batey leading on debt financing. James Smethurst provided financial regulatory advice, while merger control and FDI matters were handled by Martin McElwee. Partner David Mendel advised on people and reward workstreams, Dawn Heath on pensions matters and May Smith led on tax matters.

Nov 21

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Cinven, an international private equity firm, on its exclusive negotiations for the acquisition of the Finaxy group, a leading French multi-specialist insurance broker, from Ardian, one of the world’s leading private investment houses. Established in 2009 and headquartered in Paris, Finaxy is a leading player in the French insurance brokerage market with over 330 employees, having delivered strong organic growth and executed a successful buy-and-build strategy, including more than 30 acquisitions in France. Cinven would be investing out of its Strategic Financials Fund that specialises in the financial services industry and brings substantial experience of investing in and growing insurance brokers. Cinven will look to work closely with the Finaxy management team and contribute significant resources and capital to further accelerate strategic value-enhancing M&A across the fragmented French market, and to drive further growth by attracting new team hires, while upholding Finaxy’s commitment to long-term client-focused delivery. The transaction is subject to regulatory approvals and other customary closing conditions. The Freshfields team was led by Julien Rebibo and Yann Gozal (Corporate/M&A, Paris) and included: Partners: Aled Batey (Finance, London), Christopher Davis (Finance, London), Stéphanie Corbière (Finance, Paris), Marc Perrone (Financial Regulatory, Paris), Charlotte Colin-Dubuisson (Competition, Paris), Gwen Senlanne (People and Reward, Paris), Miriam Perez (Corporate/M&A, Madrid) Counsel: Radu Valeanu (Corporate/M&A, Paris), Thomas Jeannin (Finance, Paris), Sara Gil Garcia (Competition, Paris) Senior Associates: Octavian David and Kamil Zizi (Corporate/M&A, Paris), Eloi Roche (Financial Regulatory, Paris), Célia Kirren (People and Reward, Paris), Alice Cabourdin (Competition, Paris), Asís Martín de Cabiedes (Corporate/M&A and Financial Regulatory, Madrid) Associates: Côme Le Brun and Sarah Emile (Corporate/M&A, Paris), Emeric Tidafi (Financial Regulatory, Paris), Jalil El Khanchoufi (Competition, Paris)

Sep 3

1 min