Debevoise Advises Lovell Minnick in Take-Private Deal for Charles Taylor

24 September 2019

Debevoise & Plimpton LLP is advising Lovell Minnick Partners LLC (“Lovell Minnick”) in a recommended cash offer for the entire issued and to be issued share capital of Charles Taylor PLC (“Charles Taylor”) by Jewel Bidco Limited (“LMP Bidco”), a company formed on behalf of funds advised by Lovell Minnick.

Under the terms of the offer, each Charles Taylor shareholder will be entitled to receive 315p per share. It represents a value of approximately £261 million for the entire issued and to be issued share capital of Charles Taylor on a fully diluted basis.

The offer is subject to regulatory approvals and other customary conditions.

Lovell Minnick is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Charles Taylor is a leading international provider of professional services and technology solutions to clients in the global insurance market.

Debevoise’s insurance practice has decades of experience on the world’s most complex insurance industry transactions. It has advised on the majority of the significant Lloyd’s transactions in recent years, as well as significant take-private transactions. Most recently, the firm advised HarbourVest Partners in its role in the £1.2billion take-private acquisition of UK insurer esure.

The Debevoise team advising Lovell Minnick is led by partner David Innes with international counsel Benjamin Lyon and associate Dominic Blaxill. The corporate team also includes international consultant Clare Swirski, and associates Hilary Davidson and Katie Power. Finance advice is provided by partner Alan Davies, as well as associates Michelle Gilmore, Anna Jones and Brad Taylor. Tax advice is provided by partner Richard Ward. Competition advice is provided by partner Timothy McIver, counsel Kyra K. Bromley, and associate Megan MacDonald. Employment advice is provided by associate Christopher Garrett.

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.