Cains, has recently advised the current owners and management team of SMP Partners, a leading multi-jurisdictional corporate, trust, and professional services provider headquartered in the Isle of Man, in connection with a management buyout (MBO) of the SMP Partners group of companies to be undertaken by a new management team with the support of Palatine Private Equity LLP, a UK mid-market private equity house.
The MBO, which is subject to regulatory approval, is part of a planned leadership succession process and will result in the appointment of a new group CEO, David Hudson.
Cains has previously had the pleasure of acting for the current management team when SMP Partners was created in 2007 through an MBO from Fortis Intertrust. Under the current management team, SMP Partners has grown into an international professional services provider with over 200 staff spanning seven global offices with an unbroken record of financial success.
Cains’ corporate team, which was led by Tristan Head with the support of Scott Leonard-Morgan, Andrew Baker and Matthew Wilkinson, acted as lead legal advisors to the current owners of SMP Partners, assisting with the preparation and negotiation of the various sale transaction documents.
Tristan Head, a Director of Cains, said: “SMP Partners has been a long-standing and valued client of Cains since its creation in 2007 and we are absolutely delighted to assist the current management of SMP Partners in connection with such a significant transaction. The MBO represents an exciting new chapter for SMP Partners and we wish David and his new management team all the best for the future.”
Steve McGowan, group chairman of SMP Partners, commented: “We are delighted to have once again worked with the Cains corporate department following their assistance 12 years ago with completing our initial MBO which started the SMP story. Due to their commitment, professionalism and expert advice I could not think of a better firm to have had by my side.”