Intermediate Capital Group (ICG) has bought 47 percent in the 41 year-old UK-founded LPO, CPA Global. ICG is a listed investment firm and fund manager of buyout debt, serving institutional investors, financial sponsors and management teams of mid-market companies.

The Channel Islands headquartered CPA Global has been consistently recognized as the top LPO for contract and legal document review, apart from being the top LPO for IP services, in the Black Book of Outsourcing.  Reports peg that this transaction has cost ICG $703 million (Rs. 3,258 crore) valuing CPA Global at $1.5 billion (Rs.7,000 crore). 

DLA Piper were the lead legal counsels to CPA, led by UK-based partners, David Raff and Kiran Sharma and assisted by associates Mark Chivers and Chris Baird. The acquisition by ICG was sanctioned by the Royal Court of Jersey further to a scheme of arrangement on January 28.

Ogier helped the DLA Piper team on offshore finance matters. The team from Ogier was led by Business & Trust Law Partner, Raulin Amy with Matthew Thompson advising on Litigation matters. Senior Associate, Nicola Roberts, Associate, Sean Inggs and Corporate Services Manager, Jo Freeman formed the rest of the Ogier team.

Corporate Chief, Chris Hale assisted by Finance Partner, Andrew Gregson and Tax Partner, Kathleen Russ formed the team from Travers Smith advising ICG. Also advising ICG were Carley Olsen’s team of Corporate and Finance Partner Guy Coltman, Litigation Partner Robert Macrae and Corporate Partner Mike Jeffrey.

London-based Finance Partner, James Butters, led the Clifford Chance in advising the consortium of bankers comprising Lloyds Banking Group, HSBC, Bank of Ireland, Bank of Scotland and Ares Capital Europe.