Stevens & Bolton LLP has advised longstanding client OakNorth, on its financing with private equity firm Rockpool Investments (“Rockpool”) to fund the acquisition of Primrose Group Limited (“Primrose”). Founded in 2003, Primrose has an active customer base of more than 2.5m people with its products sold in the UK, US and Europe. Rockpool will support the business in expanding its product offering across new categories, investing in its website and enabling it to expand its reach across Europe.
Commenting on the transaction, Fabien Bonavia, legal director at OakNorth said “Andrew, Laura and team played a central role in helping us close this important deal. They demonstrated technical excellence throughout and were fully dedicated to meeting the tight deadlines. We look forward to partnering with Stevens & Bolton on more exciting deals such as this.”
Andrew Dodds, managing associate in Stevens & Bolton’s Banking & Finance team said: “This is another great deal for Stevens & Bolton to be involved with alongside OakNorth, being our 4th high-profile sponsor backed finance transaction for the bank in the past 6 months. We are delighted to have supported OakNorth again as the bank continues to expand its fast, flexible and innovative debt offering into the private equity lending space. It was a pleasure to work with Fabien, Adam Agius (lending director) and the rest of the OakNorth team on the Primrose deal and we look forward to helping the bank on future deals.”
The Stevens & Bolton deal team comprised Andrew Dodds and Laura Barrett (associate, Banking & Finance), supported by Nassar Nassar (Corporate) and Rachel Collins (Employment, Pensions and Immigration).