Brodies’ pensions team advised the Trustees of the Howden Group Pension Plan on a £230 million full scheme buy-in with Legal & General Assurance Society Ltd, covering almost 2,000 members.

This was the second phase of the Trustees’ strategic approach to improve funding of the Plan and to reduce exposure to uncertain asset returns, thereby providing members of the Plan with greater financial security. Through a close collaborative relationship with Legal & General, the Trustees were able to deliver the optimal outcome for the members of the Plan.

Brodies advised Abellio on its successful bid to operate the East Midlands Railway franchise, which started on 18 August 2019.  Abellio will be responsible for delivering new trains, smart ticketing and more frequent services for passengers.

Brodies’ pensions team advised the trustees of the John Menzies plc defined benefit pension scheme, the Menzies Pension Fund (Scheme), on the pensions aspects of the sale of Menzies Distribution Limited, to private equity firm Endless LLP for £74.5m. The sale – which completed on 5 September 2018 - was a strategic move by the Edinburgh-headquartered John Menzies Group to separate its aviation and print media distribution arms and focus exclusively on its fast-growing global aviation services business.

Brodies advised on a £800,000 funding agreement between Linwood Community Development Trust and Renfrewshire Council for the Mossedge Village project, which  will provide the community of Linwood with a new football and community facility.

Brodies advised on the sale of the entire issued share capital in UK sustainable asset investment firm FIM Services Ltd to Gresham House Holdings Ltd (a wholly owned subsidiary of the alternative asset management group headed by listed Gresham House plc).

The acquisition of FIM Services is part of Gresham House’s plans to grow its presence across specialist investment strategy sectors. The consideration was up to £25 million on a cash-free, debt-free basis (subject to certain adjustments).

Brodies’ first involvement with Adelphi was in 2003. Donald Houston and Keith Falconer, on a recommendation, approached Jamie Walker who had revived the Adelphi name in order to bottle a limited number of rare, well-aged and top quality malt whiskies. Donald and Keith wanted to buy a hogshead of whisky; they were so impressed that they bought the company.

Arjun Infrastructure Partners (AIP) has acquired a 75% shareholding in South Staffordshire Water (a regulated water company supplying 1.6million customers, with additional non-regulated interests providing contractual services to the UK water sector) from KKR, a global investment firm.

Advising the shareholders of Barrhead Travel Group, one of the UK’s biggest retail travel firms, on its sale to Travel Leaders Group, one of North America’s largest travel companies, adding to its UK portfolio.

The Brodies team was led by Corporate Partner Neil Burgess, with support from Paul Breen.

Brodies advised Rovop Group on an equity investment by Bluewater (a new investor via an investment vehicle) and BGF Investments (a current investor). The transaction involved two institutional equity investors, four senior lenders, overseas subsidiaries, an acquisition in the US and various complex stakeholder dynamics.

Brodies acted for longstanding client Powerleague Group, in the circa-£15 million investment it received from its owner, Patron SARL. This was facilitated by the issue of additional shares, as well as a restructuring of the Group’s financing arrangements.

The deal was led by Shuna Stirling, with support from Duncan Cathie and Jack Moir.