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SJ Berwin advises Apax Partners on MBO of TDS Promethean.

26 November 2004. SJ Berwin advised Apax Partners on the recent MBO of TDS Promethean (Holdings) Limited ("Promethean") in which funds advised by Apax Partners made a substantial minority investment. Senior debt funding was provided by Lloyds TSB Bank plc.

Promethean is a market leader in the provision of interactive teaching and learning classroom solutions. Promethean's interactive whiteboard systems are in 50,000 classrooms around the world. Based in Blackburn, Lancashire, the Company employs more than 150 full time staff and has overseas offices in the USA, France and Germany.

Apax Partners is one of the world's leading private equity investment groups, operating across Europe, Israel, the United States and Japan. With over 30 years of direct investing experience, Apax Partners' funds provide long-term equity financing to entrepreneurs to build and strengthen world-class companies. It pursues a balanced equity portfolio strategy, investing in venture capital and buy-outs.

SJ Berwin corporate partners, Joanna Hamilton and Rob Day led the SJ Berwin team, assisted by corporate assistants, Angela Newton and Ylan Steiner, tax partner Dominic Adams, competition partner Elaine Gibson-Bolton, banking partner Jeremy Cross and banking assistants Katherine Baker and Simon Reid. Macfarlanes (Simon Martin) acted for the vendors and Lloyds TSB Bank plc were advised by Eversheds (Nigel Dale).

Joanna Hamilton said: "We are delighted to have advised Apax on this substantial transaction. Apax is one of our longest standing clients and one of many that we advise on fund formation and transactions - both venture investments and larger buy outs."

SJ Berwin's market leading fund formation and deals teams are able to provide a seamless deal service, drawing on their detailed knowledge of the complex fund structuring requirements in implementing corporate transactions. SJ Berwin advised on more completed buy-outs in Europe in the first half of 2004 than any other law firm, and in the last 12 months advised on 34 completed buy-outs with a total value of over £4.35 billion.

For further information please contact:

Joanna Hamilton on +44 (0) 20 7533 2222 or by emailing


Date de dernière mise à jour : 08/01/2009 - 3:10 PM

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