The management team of Borders UK under the leadership of chief executive Philip Downer and finance director Mark Little, completed a management buyout backed by capital from Valco Capital Partners LP, restructuring specialist Hilco’s private equity arm.
Borders UK was bought by entrepreneur Luke Johnson backed by Risk Capital Partners in September 2007 when US Borders Group sold the books to music business.
The Salans’ London team advising Valco Capital Partners was led by Alison Gaines (banking and finance consultant) and corporate partner, Jonathan Polin who was assisted by employment partner Andrea Nicholls and associates, Chris O’ Connor and Abigail Townley.
Pinsent Masons’ corporate partner, Gareth Hughes, acted on behalf of Luke Johnson.
Andrew Pepper at Hilco commented: "This management buyout was completed in an incredibly short timeframe. We greatly appreciated the determination and dedication of Salans lawyers in making it happen."
Jonathan Polin at Salans LLP commented:" We value our relationship with Hilco. We provide a seamless, commercial and efficient service which is aimed at achieving our clients’ objectives."