Ashurst advises McLaren Group Limited on major strategic transactions
05 August 2021
05 August 2021
As Official Legal Services Partner to the McLaren Group, Ashurst has advised the Group on a comprehensive refinancing, including a £550m equity investment, new high yield bond issuance, and refinancing of its existing revolving credit facilities which cumulatively strengthen the company’s capital structure to support its long-term growth plans.
Ashurst also advised on the sale of the McLaren Applied Limited business to Greybull Capital, the investment made into McLaren Racing by MSP Sports Capital and other third party investors in December 2020, and the recently announced sale and leaseback of its iconic headquarters, the McLaren Campus which includes the McLaren Technology Centre and McLaren Production Centre where its supercars are hand-built.
The Ashurst team was led by corporate and McLaren relationship partner Rob Aird, with corporate and fellow McLaren relationship partner Karen Davies, high yield partner Anna-Marie Slot and finance partner Tim Rennie. They were supported by corporate senior associates Molly Woods, Louise Chan, and Shaz Ali, high yield counsel Natalia Sokolova and senior associate Eileen Kelly, and finance senior associate Sebastian Brignell.
"As the official legal services partner, we are delighted to continue our support for McLaren Group through this series of strategically significant transactions." Rob Aird said. "A large, cross-practice and multi-jurisdictional team from Ashurst was involved, working side by side and seamlessly with colleagues at McLaren, to achieve what is a highly successful outcome for the Group. We are thrilled to have played our part in delivering for this iconic British luxury brand."