News | Finance

Friday 19th October 2007

SJ Berwin has cemented its growing relationship with Bank of Scotland plc (BoS) by advising it on the debt financing of the acquisition by Lydian Capital Partners of Trilogy Health Services, a US care home operator based in the mid-West. The transaction represents Lydian's first transaction in the US, extending the group’s significant European healthcare footprint which includes Barchester, one of the largest care homes groups in the UK. It was also the first US healthcare buyout deal completed by BoS for Lydian Capital.

SJ Berwin had advised the same team at BoS on the financing for the leveraged buy-out of Chrysalis Radio in August this year. It is also the second high-profile US deal that SJ Berwin has advised on in recent months, having been appointed to advise CVC Capital Partners on the financing of its $1.4bn acquisition of US luggage manufacturer Samsonite.

The SJ Berwin team was led by Finance Partner Stuart Brinkworth (assisted by Angela Cobbina). Speaking about Trilogy, Stuart Brinkworth said:

"This represents another significant transaction for us in terms of our growing relationship with Bank of Scotland. This was a great deal to get away in what is a difficult debt market at the moment. The deal was undertaken on a hybrid-structure in that it had elements of both a leveraged deal as well as property backing. That, added to the cross-border elements, meant it was a challenging transaction and one that we are very pleased to have been asked to advise on."

Denis Knockton, Director in the Strategic Relationship Group at Bank of Scotland plc and who led the BoS team on the deal, said:

"The teams at BoS and SJ Berwin worked closely to ensure a successful conclusion to this complex transaction through a combination of hard work, commitment and commerciality "

The New York office of Cooley Godward Kronish LLP provided SJ Berwin with US advice (led by Steve Weinberg). Lydian Capital were advised by the Chicago office of Mayer Brown (led by Paul Crimmins).

For further information please contact:

Stuart Brinkworth on +44 (0)20 711 2050, email stuart.brinkworth@sjberwin.com  or Amanda Nassar on +44 (0)20 771 2658, email amanda.nassar@sjberwin.com.

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