backKing & Spalding advised the founder and principal managers of Vachon Group in connection with the tax aspects of a leveraged buy out led by private equity sponsor Apax, through its portfolio company S&W Partners Group, a UK based accountancy group. The transaction values 100% of Vachon Group’s equity at €40 million.
As part of the transaction, the founder and management team rolled over a portion of their equity into the new investment vehicle, in exchange for hybrid financial instruments, for a total amount of approximately €18.1 million.
Vachon Group is a leading French certified public accounting and statutory audit firm, providing a comprehensive range of complementary professional services to its French and international clients, including statutory and contractual audit (French GAAP, US GAAP and IFRS), accounting and bookkeeping, tax advisory and compliance, payroll management and group consolidation.
S&W Partners Group is a leading mid market accountancy and advisory business. The group offers its clients a broad range of services, including business and private client tax advice, assurance and business services, as well as an extensive suite of advisory and digital services encompassing recovery and restructuring, transaction services and forensic advice.
S&W is one of the fastest growing accountancy firms in the UK, with approximately 1,800 employees and more than 120 partners operating from 15 towns and cities across the United Kingdom and the Republic of Ireland. Apax is a leading global private equity advisory firm, with approximately $80 billion of assets under management.