The London office of Debevoise & Plimpton LLP has advised HarbourVest Partners in the acquisition, together with other investors and through funds managed by Compass Partners International, of certain investments in a portfolio of companies from Bridgepoint Europe III.
The total equity commitment of the acquisition is in excess of €360 million, with an aggregate enterprise value in excess of €2 billion. Core assets include Infinitas Learning, Rodenstock and CTL. Compass Partners has made its investment in funds that will continue to be managed and advised by Bridgepoint.
Funding for the transaction was primarily provided by funds managed by HarbourVest Partners, and cash proceeds used to provide liquidity to investors in Bridgepoint Europe III. Follow-on capital will also be provided to fund further development of the portfolio.
Bridgepoint will retain an equity interest in certain investments in the portfolio allowing them to benefit from any future upside.
Compass Partners, based in London and New York, is a private equity investor founded in 1997 focused on secondary direct transactions.
HarbourVest Partners is an independent, global private markets investment specialist with more than 30 years of experience and $39 billion in assets under management.
The Debevoise team advising HarbourVest Partners was led by London partner Katherine Ashton, and included associates Benjamin Amos and Jacqueline Eaves. Tax advice was provided by international counsel Cécile Beurrier and associate Matt Pincus. Competition advice was provided by international counsel Timothy McIver and associate Andrea Pomana.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.