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Revolving Doors: Memery Crystal goes public after £ 30m buyout when Withers opens in Boston

In another week of frenetic partner change, the parent company of the listed company Rosenblatt took over the medium-sized company Memery Crystal worth GBP 30 million.

Behind the deal is AIM-listed RBG Holdings. The 29 partners of Memery, headquartered in London, are said to receive both cash and RBG shares for their stake in the company.

Nicola Foulston, Group Chief Executive of RBG, said: ‘Memery Crystal is a great fit for our existing law firm. We believe the acquisition will be transformative in terms of the size of our business. Memery Crystal is a very successful company that, when combined with our commercial focus on margin and cash, can be even more profitable. ‘

RBG also confirmed that Memery and Rosenblatt will remain independent brands with their own offices, with Memery CEO Nick Davis retaining his role. Davis underlined the complementary connection and said, “It’s a lot of business as usual.”

In 2018, Rosenblatt joined an exclusive group and became only the fourth public law firm in the UK. Since going public, the company has used its fundraising to bring its own funding solution to market for dispute resolution.

Elsewhere, Withers has expanded its international life sciences and venture capital practice by opening a new office in Boston through three partner hires. The partners John Serio, Richard Emmons and Christopher Cowles all come from the Massachusetts company Burns & Levinson to fill the new office and advise clients on regulatory and IP issues.

James Shaw, global head of the Withers tech team, commented: ‘For many of our clients who manage private equity funds, the tech and life science sectors are paramount and the devastating damage from Covid-19 has made life Sciences significantly enhances an attractive investment objective. The addition of our Boston team validates our commitment to technology, life sciences and venture capital clients in the US and is building a truly robust network to support all of our clients who work and invest in the industry around the world. ‘

Goodwin is also strengthening its life science practice with permanent partner Anne-Charlotte Rivière von Dechert in Paris. Rivière specializes in venture capital, private equity and M&A in life sciences and technology and is recognized by the Legal 500 as a next generation partner in life sciences and healthcare.

In London, Shearman & Sterling hired former leveraged finance partner Sanjeev Dhuna from Allen & Overy to lead the company’s European team along with current EMEA CFO Ward McKimm. Dhuna brings expertise in advising lenders and borrowers on complex cross-border banking and financial transactions, including advising lenders to high-profile financial sponsors on large capitalization leveraged buyouts.

McKimm said, ‘Sanjeev’s energy, entrepreneurship and experience reinforce our strong global leveraged finance offering. He will be an integral part of growing our direct lending offering based on his extensive market knowledge and reputation combined with our robust global platform. ‘

Bird & Bird has also conducted major arbitration in the city, hiring Nick Peacock as a partner of Herbert Smith Freehills. Peacock, who will lead Bird & Bird’s London Arbitration Panel, is a seasoned attorney with experience in disputes in the technology, telecommunications, financial services and energy sectors.

Sophie Eyre, co-head of the company’s international dispute resolution group, said of Peacock, “His strong focus on cross-border collaborative relationships and his in-depth understanding of the arbitration market will be beneficial to our team.”

Akin Gump has strengthened his London finance bank by hiring former Weil partner Clare Cottle. Cottle represents loan funds, institutional investors, private equity funds and portfolio companies in a variety of cross-border and domestic financings.

Tom O’Connor, Akin Gump’s financial partner, said her arrival was “just what it takes to fuel the existing banking depth of the company’s finance and financial restructuring teams.”

Faegre Drinker Biddle & Reath has strengthened its restructuring and bankruptcy practice with the arrival of Stephenson Harwood’s partner Susan Moore. Moore previously headed Stephenson Harwood’s restructuring and bankruptcy group and is a seasoned advisor on high profile cross-border and domestic restructurings and bankruptcies. At an expansive start to the year, she is the 12th partner of Faegre Drinker in 2021.

Ince has expanded its oversight team with the appointment of partner Colette Kelly, who comes from Shearman Bowen & Co. Kelly is an expert on white collar crime with a particular focus on fraud, crime proceeds, and loss of property. She has routinely represented clients on high profile cases filed by the FCA, OFS and HMRC.

Elsewhere, Linklaters has reached out to a Magic Circle rival in France about his recent hire in Paris and hired private equity partner Florent Mazeron. Linkaters, a partner at Freshfields Bruckhaus Deringer since 2016, said Mazeron will be “one of the market leaders” of the company’s global financial sponsorship group. Mazeron’s activities are focused on major private equity and other corporate transactions, as well as the development of strategic partnerships and joint venture agreements.

Commenting on his arrival, Mazeron said, “The in-depth knowledge of his various practices and the breadth of his network will enable us to cover all of the problems our customers are facing today in these areas.”

Cooley has appointed a veteran securities litigation partner in New York to hire Aric Wu, who joins Gibson Dunn after more than 20 years. Wu is an experienced advisor on class action, securities derivatives, M&A disputes and investigations.

Patrick Gibbs, head of Cooley’s securities litigation group, described Wu as “exceptionally talented” and praised his “track record in successfully defending against securities class action lawsuits.”

DAC Beachcroft has sought to strengthen its Spanish operations by bringing insurance dispute partner Pablo Guillén to its Madrid office and returning after eight years as a partner at Clyde & Co.

“Pablo has been a dominant figure in the Spanish and international insurance market for many years and has an excellent reputation for his expertise as a director and officer as well as for financial institutions,” commented José María Álvarez-Cienfuegos, Head of the DAC Madrid office. He added, “We are thrilled to have him return to the company.”

In Germany, Willkie Farr & Gallagher has expanded its Frankfurt restructuring capacities with the hiring of the former Kirkland & Ellis partner Wolfram Prusko. His practice focuses on assisting investors, debtors and creditors with cross-border distressed transactions and restructurings.

Chairman Matthew Feldman said, ‘Willkie has leading restructuring practices in all of the markets we operate, including the US, UK, France and Italy. It goes without saying that we will expand our growing restructuring offer in Germany and in our entire network to include a prominent partner with a strong track record. ‘

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