Kirkland & Ellis, Weil, Gotshal & Manges and Paul Hastings are advising on a proposed €1.8 billion ($1.5 billion) deal that would allow London and New York-based private equity firm CapVest to tap into growing demand for investment in sustainable energy infrastructure. CapVest has entered exclusive talks to acquire HLD’s majority stake in TSG, a European technical services provider for critical energy infrastructure. Paris-headquartered TSG started out decades ago as a gas station and fueling equipment company. Since it was acquired by European investment firm HLD in 2020, the company has worked to transform itself into a provider of technical services for critical energy infrastructure and the sustainable energy transition. HLD and TSG management will retain minority stakes in the company after the sale, for about €1.8 billion, according to French press reports and Bloomberg. Kirkland's team advising CapVest includes corporate partners Vincent Ponsonnaille (London and Paris), Guillaume Nivault (Paris), and Carlos Gil Rivas and Chris Connolly (London), and debt finance partners Evgeny Zborovsky and Karen Ford in London. In October, Kirkland was on the other side of the table advising Bain Capital and Cinven in a €10 billion deal to sell their majority stake in German healthcare and pharmaceutical giant Stada to CapVest, advised by Willkie, Farr & Gallagher. Weil's Paris-based team advising the seller, HLD, includes partners Jean Beauchataud and Pierre-Alexandre Kahn on the transaction’s corporate law aspects, Marc Lordonnois on public law, and Ning-Ly Seng on competition law. Kahn has advised HLD on several other transactions, including the company's sale of online shoe retailer Sarenza and its acquisition of IPS and AMS (now Elivie), as well as the acquisition of Photonis in 2021 for €370 million, according to Weil. French firm Arsene Taxand is advising HLD on tax, while Paul Hastings' team is advising HLD and the TSG group on financing aspects of the transaction, led by partners Olivier Vermeulen and Tereza Courmont Vlkova. It's also not the first time Paul Hastings has advised HLD. In November, Vermeulen and Tereza Courmont Vlkova also advised HLD on the repricing and upsizing of their existing Term Loan B facility, increasing it from €600 million to €750 million, according to Paul Hastings. The CapVest transaction is subject to customary closing conditions.