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Eversheds Sutherland advises Livingbridge on its investment in Nationwide Hire

  • Global
  • United Kingdom


    Eversheds Sutherland has advised longstanding client Livingbridge, one of the UK’s leading mid-market private equity investors, on its investment in Nationwide Hire, an aggregator of equipment rental and hire services.

    Livingbridge’s investment, made through its Enterprise 2 fund, totalled £15 million, with senior debt and working capital facilities additionally provided by Clydesdale & Yorkshire Bank.

    The investment will build on Livingbridge’s experience of aggregators in the rental space following its exit from Nexus Vehicle Rental in 2015 and will enable Nationwide Hire to accelerate its growth trajectory by helping to develop an online customer acquisition engine and funding the development of a new technology platform.

    The Eversheds Sutherland team was led by Principal Associate Lizzy Tindall (corporate) with assistance from Partner Patrick Davies (banking) and Associates Fabian McNeilly (corporate), Lisa Boyle (banking) and Kate Clarke (banking). The global legal practice provided advice on all aspects of the transaction including the acquisition, equity, banking and employment.

    Lizzy Tindall commented:

    “We are delighted to have advised on yet another successful and strategic transaction for Livingbridge. It was a pleasure to work with James and his team and we look forward to working together again in the future”

    James Titmuss of Livingbridge commented:

    “We are excited by the prospect of working closely with Jonathan Holley and the management team and using our knowledge of the rental sector to help Nationwide Hire enter a new phase of growth. We are delighted to have concluded this transaction and appreciate the support provided by Lizzy and the wider Eversheds Sutherland team.”

    Eversheds Sutherland was recently named Law Firm of the Year by private equity intelligence publication, Unquote at its 2019 Awards.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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