Private investors face an increasingly competitive landscape. Whether an investor, CEO or manager, you will require assistance across a wide range of activities. We are focused on understanding market trends and identifying challenges to guide your strategy and decision making. We provide advice on all operations including LBO, MBO, PtoP, venture capital, equity financing, balance sheet restructuring, funds structuring, financing operations, debt structuring , pre-audit, tax issues transaction structuring, creation and value sharing.
How DLA Piper can help
The French private equity practice team advises national and international private equity firms, acquisition finance providers and management teams on all their activities on the French market across all economic sectors.
Our lawyers have long term experience and an extensive knowledge of the private equity market. This is combined with a deep understanding of our clients' business needs, which enables us to provide extensive, constructive and innovative advice in relation to private equity transactions. Our experience covers all aspects of the private equity lifecycle:
- Preliminary preparation of the transaction:
- Private equity funds structuring in France and abroad (partnership, LLC, FCPR, SCR)
- Structuring of fund management company
- Assistance in implementation of carried interest of the management team
- Implementation of contracts between different stakeholders (management, consulting, depositary)
- Monitoring compliance policy of targets
- Governance management
- Investment structuring (LBO, MBO, OBO, LBI, venture capital, capital development, real estate LBO):
- Acquisition financing (loan contracts, hedging contracts, guarantee contracts, senior, subordinated or mezzanine debt contracts)
- Support in all regulation issues (social, banking, financial, insurance)
- Legal and tax structuring
- Council and support on merger control
- Investor exit organization (redemption, trade sale, a capital reduction)
- Negotiating and drafting of management packages:
- Negotiations and contracting of management packages
- Output conditions and allocation of surplus value
- Negotiation and implementation of preference shares or hybrid securities issue (ABSA, BSA, ORA, OC)
- Share plans for directors and employees
- Transaction process from contract negotiation to post-acquisition transactions:
- Anticipation and treatment of property issues of shareholders-vendors (donation, contribution to a holding company, ISF)
- Rationalization of target groups, debt push-down, syndication, IPO, debt redemption
- Sale process organization and negotiation of cession contractual documentation (sale contract, asset and liability guarantees)
- Post-structuring client monitoring (including tax and regulatory requirements)
- Assistance to LBO troubled companies
- Employment law
With over 30 lawyers in France, including 14 partners and 200 lawyers worldwide, our Private Equity team has both the adequate resources to meet our clients' needs as well as market recognition for its local and cross-border transactional experience.
The firm's efficiency is well regarded among clients, one relaying how the lawyers “deliver on time and with quality,” before adding: “They also offer the full range of services, which is always very useful, and have excellent international exposure. It is truly a pleasure to work with them.”
Xavier Norlain is valued by clients for his practical manner, one relaying how “he gives us commercial and tailored solutions.” He is well regarded for his advice to management teams and private equity firms on LBOs, disposals and majority-stake acquisitions.
Chambers Europe, 2021