Key issues

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

Our team

With over 25 lawyers in France, including seven partners and 200 lawyers worldwide, our private equity team has both the resources to meet our clients' needs as well as market recognition for its local and cross-border transactional experience.

Quotes

Well-reputed firm covering private equity transactions in numerous industry sectors, such as technology, leisure, retail and manufacturing. Multidisciplinary team capable of providing insight into the corporate, employment and tax aspects of transactions, as well as offering assistance with antitrust issues. Noted for strength in international work. Clients include global and pan-European private equity funds, portfolio companies and management teams.

"very good-quality partners"
"dedicated and well-trained teams"

CHAMBERS & PARTNERS 2018

DLA Piper’s practice has a core focus on private equity funds and financial investors, and is particularly active for portfolio companies. Key sector strengths include technology, retail, leisure, manufacturing, aeronautics and defence. The team’s strong point is mid-market to upper mid-market transactions, though it is also handling an increasing number of large-cap transactions. The practice is kept busy handling domestic mandates, but profits from the firm’s network to advise on multijurisdictional matters.

LEGAL 500 EMEA 2018