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SJ Berwin LLP
Tuesday, April 24, 2007
SJ Berwin Acts on £230M Care UK Financing and Acquisition of Mercury Health
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SJ Berwin has further enhanced its growing reputation acting for banks on leveraged finance transactions after securing the mandate to act for lead arranger The Royal Bank of Scotland and syndicate banks Bank of Scotland and Allied Irish Bank on a £230m debt facility for Care UK. This included the finance to enable Care UK to complete the £78m acquisition of Mercury Health Holdings Limited, a division of Tribal Group plc. Care UK, a leading independent provider of health and social care solutions which is quoted on the London Stock Exchange, were rumoured to have edged out private equity group Cognetas and healthcare service group Inhealth to acquire Mercury. The SJ Berwin team was led by new Finance Partner Stuart Brinkworth (assisted by Associate Bryan McCarthy), who secured the instruction only days after joining the firm from McGrigors. The team also included Corporate Partner Perry Yam. Commenting on the transaction, Stuart Brinkworth said: "I have been working closely with the RBS Healthcare team for several years now and it was extremely pleasing to receive an instruction on a transaction of this size so soon after arriving here, particularly as Care UK is one of its biggest customers. The strength of the SJ Berwin brand played a big part in winning this deal and demonstrated exactly why I chose to come here." Care UK were advised by Hammonds (Trevor Ingle and Jonathan Edwards).

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