BMR, AZB, Goodwin Procter lead on TA Associates $140 million investment in ‘W’ brand stores

US-based private equity firm TA Associates has invested about $140 million to pick up a stake in Indian women’s ethnic wear firm TCNS Clothing, which runs the ‘W’ brand stores.

Venture capital and growth equity investor Matrix Partners has also taken out its five-year-old investment in this transaction.

BMR Legal acted for the Promoters, Company and Management Shareholders. The team was led by Partner Amit Khansaheb, along with Principal Rishi Jain, Managing Associate Tejas Patel, Senior Associate Karn Gupta and Associate Mayank Malhotra.

AZB & Partners acted as domestic counsel for TA Associates, while Goodwin Procter acted as international counsel.

The AZB team was led by Partners Darshika Kothari and Nilanjana Singh, along with Senior Associates Rinki Ganguli and Roxanne Anderson and Associates Mansi Shetty and Vasudha Asher.

Archana Rajaram acted as Independent GC to Matrix Partners.

This is the biggest ever private equity deal in the apparel industry; it values W somewhere between $280 and $400 million, as per VCCircle estimates.