Debevoise Advises Clayton, Dubilier & Rice in Motor Fuel Group Acquisition

9 June 2015

The London office of Debevoise & Plimpton LLP is advising Clayton Dubilier & Rice (“CD&R”) in its announced acquisition, alongside management, of Motor Fuel Group (“MFG”) from Patron Capital Partners (“Patron”). The deal values the company at approximately £500 million, and is expected to close in July, subject to customary regulatory approvals.

Following the acquisition, Alasdair Locke will remain Chairman of MFG. Sir Terry Leahy, a Senior Advisor to CD&R's Funds, former chief executive of Tesco and current Chairman of B&M European Value Retail, will also join the board of MFG.

Debevoise & Plimpton LLP advised CD&R on the terms of the £360 million senior secured facilities for the transaction.

MFG is the number two independent petrol and convenience retailer in the UK. Through a series of strategic acquisitions, Patron and MFG management have grown the company from 48 sites in 2011 to a current total of 373 sites.

Founded in 1978, CD&R is a private investment firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $21 billion in 63 businesses with an aggregate transaction value of approximately $100 billion.

The Debevoise team advising CD&R is led by London partner Alan J. Davies, and included international counsel Nathan Parker and associate Almas Daud. Tax advice was provided by London partners Richard Ward and Matthew D. Saronson, international counsel Cécile Beurrier and associate Ceinwen Rees.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.