Norton Rose advises CIT Capital Finance (UK) Limited in connection with the acquisition of the Oyster Marine group by private equity house Balmoral Capital
20 March 2008
Norton Rose LLP advised CIT Capital Finance (UK) Limited as arranger of senior and mezzanine facilities made available to assist in funding the acquisition by Balmoral Capital of luxury yacht builders, Oyster Marine, from its founder Richard Matthews. The transaction closed on February 15 2008.
Michael Ings commented:
“We are delighted to be involved in this transaction which shows that banks such as CIT are able to close deals in this area of the market notwithstanding the clearly difficult market conditions”.
This is the third transaction on which the team has represented CIT in recent months.
The team was led by Michael Ings assisted by Tim Waghorn, Neha Khosla, Mark Fine and Michelle Avraham.
Balmoral Capital was advised by Latham & Watkins with Allen & Overy LLP advising the vendor.
For further information please contact:
Norton Rose LLP is a constituent part of Norton Rose Group, a leading international legal practice offering a full business law service from offices across Europe, the Middle East and Asia.
Knowing how our clients’ businesses work and understanding what drives their industries is fundamental to us. Our lawyers share industry knowledge and sector expertise across borders, enabling us to support our clients anywhere in the world. We are strong in corporate finance; financial institutions; energy and infrastructure; transport; and technology.
The Group comprises Norton Rose LLP and its affiliates. We have over 1300 lawyers operating from offices in Abu Dhabi, Amsterdam, Athens, Bahrain, Bangkok, Beijing, Brussels, Dubai, Frankfurt, Hong Kong, Jakarta*, London, Milan, Moscow, Munich, Paris, Piraeus, Prague, Riyadh*, Rome, Shanghai, Singapore, Tokyo and Warsaw.
With effect from 1 January 2010, Deacons Australia, a leading Australian law firm with offices in Sydney, Melbourne, Brisbane, Perth and Canberra and teams in Singapore, Jakarta and Ho Chi Minh City, will join Norton Rose Group. The enlarged Group will have over 1800 lawyers in 30 offices worldwide, 700 of whom will be based in Asia Pacific, and will form one of the best-resourced legal practices in the Asia Pacific region.
* associate office