Wragge & Co LLP Private Equity team has advised Lloyds TSB Development Capital on its £40 million investment in GVA Grimley LLP.

The company converted from a limited liability partnership into a limited company. As part of the restructure, equity and non-equity partners, together with a number of senior employees, will also become shareholders. The new structure, facilitated by LDC's involvement, will set the stage for GVA Grimley's strategic growth.

Private equity partner Andy Stylianou led a cross-firm team comprising director Catherine Clarke and corporate partner Peter Smith. Graham Spalding provided transaction services advice and property partner Phil Clissitt and his team advised on property aspects of the deal. The team worked closely with Tim Farazmand, Adrian Willetts and Richard Swann at LDC. DLA provided legal advice to GVA Grimley.

Andy Stylianou said: "This was a complex transaction requiring a creative approach. Our dedicated Private Equity team has a deep understanding of the legal and commercial requirements of mid-market transactions and so we were best placed to deliver the tailored advice required by LDC. This experience and our flexible approach allowed us to work through the unusual aspects of this innovative transaction to achieve the best outcome for all involved."

Tim Farazmand at LDC said: "When faced with the challenges of this out of the ordinary private equity transaction, the Wragge & Co team's technical expertise and flexible approach helped us achieve the best partnership for GVA Grimley and LDC."

LDC is a leading mid-market private equity house owned by Lloyds TSB Group, with investments valued in excess of £2 billion. Wragge & Co has a long-standing relationship with the client and has previously advised on the management buy-out of American Golf.

GVA Grimley is a leading commercial property consultancy, with 12 regional offices, 1,200 staff and total revenues of £148 million in 2007. It provides a range of property-related advice, consultancy and transaction services to a broad range of clients, including property occupiers, owners, lenders, managers and investors.

Wragge & Co's Private Equity team is a single pool of experts delivering expert legal advice and commercial solutions to mid-market investors. Its clients include many key players in private equity and venture capital including 3i Group, NVM Private Equity, Core Capital and ISIS Equity Partners. Deals completed this year include the £46.5 million management buy-out of Protocol Skills Ltd for Close Brothers Private Equity and the £12 million acquisition of Smollenskys for Octopus Private Equity.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Amie Ryalls on +44 (0)121 213 2360

This press release may contain information of general interest about current legal issues, but does not give legal advice.