Global law firm White & Case LLP has advised funds managed by BlackRock Investment Management (UK) Limited, in its role as outgoing financier, on the acquisition of Fulgard by Seven2, a midcap private equity fund formerly known as Apax Partners.
Seven2 acquired the entire share capital of Fulgard from its existing shareholders, including the pan-European private equity fund Argos Wityu, and minority shareholders, such as members of Fulgard's management team. As part of the transaction, a senior secured bond was issued by a vehicle company controlled by Seven2 to finance the acquisition and refinance Fulgard's existing notes.
In July 2024, White & Case LLP advised BlackRock on an offering of up to €105 million senior secured notes issued by Sicura S.p.A. (now renamed Fulgard) and subscribed and purchased by BlackRock.
The White & Case team that advised on the transaction included partners Iacopo Canino, Stefano Bellani (both Milan) and James Greene (London) and associate Alessia Sommadossi (Milan).
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