A cross-jurisdictional Carey Olsen team has advised Strategic Value Partners (SVP) in its acquisition of Vita Group from TPG.
The UK-based Vita Group, which has been owned by TPG since 2005, develops, manufactures and markets flexible polyurethane, Talalay latex and flooring products to customers across Europe, the US and China. It operates 37 sites in 15 countries and employs around 2,700 people.
Last year it recorded preliminary sales of €704 million and earnings before interest, taxes, depreciation and amortisation of €40 million.
The transaction, which completed on 10 May, was for an undisclosed sum.
The Carey Olsen team assisting SVP on the corporate and finance aspects of the transaction included Partner Nick Bullmore and Counsel Dylan Wiltermuth from the firm's Cayman office, along with Partners Kate Andrews and James Willmott, Senior Associate Katherine Tresca and Associate Nick Ghazi from Jersey.
Fund launch
Separately, Carey Olsen has also advised Techemy Capital on the launch of HODL 1, a closed-ended fund vehicle targeting investments in private-sale stage initial coin offerings (ICOs).
The fund, which has been authorised under the Jersey Private Fund regime, has appointed Techemy Capital as investment adviser and will invest in cryptographic token deal flow.
The Techemy Group, based in New Zealand, owns and operates a range of businesses that assist in institutionalising this new asset class.
Partner James Mulholland led the Carey Olsen team advising Techemy Capital, assisted by Senior Associate Lauren Fletcher.