Taylor Wessing advises Patron Capital Partners on deals of over £300m

13-Oct-2005  |  Corporate, Finance, Tax

Taylor Wessing's Corporate team has advised Patron Capital on three separate matters valued at over £300m.

  • Taylor Wessing advised Patron Capital and its investment partner Fortress Investment Group on the sale of their interests in Simon Storage Holdings Limited, the UK's largest independent multi-site bulk liquid and gas storage operator, to Inter Pipeline Fund, a Canadian petroleum transportation and natural gas liquids extraction business based in Calgary, Canada.

The transaction involved Inter Pipeline Fund, through a newly incorporated UK company, acquiring the share capital and indebtedness of Simon Storage for approximately £125 million, or approximately $260 million Canadian (subject to closing adjustments).

Corporate partner Nick Briant led the Taylor Wessing team, consisting of John Mesrie (corporate), Dominic Ross (finance) and Elizabeth Small (tax).  A team comprising Julian Bradley, Paul Miller, Karen Krige and Brigit Hanwell from Ashurst acted for Inter Pipeline. 

  • Taylor Wessing advised Patron on its acquisition, from Delek Belron International Ltd, of a 55% share in various companies, owning five office buildings in Birmingham, Croydon, Manchester and Sheffield, with an enterprise value of approximately £100 million.

Taylor Wessing’s Nick Briant led the team advising Patron, comprising John Mesrie (corporate), Dominic Ross, Akmal Ghauri and David Gilham (finance) and Elizabeth Small (tax).

Olswang’s Philip Olmer, Simon Killick, Nick Crosby and Kacey Harrison acted for Delek on this sale.

  • Simultaneously with Taylor Wessing's advice to Patron on this acquisition, the same team also advised on the £80 million refinancing of these companies.