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Mishcon de Reya advises Matt Davies on the secondary MBO of Direct Ferries, backed by ICG

Posted on 14 June 2023

Mishcon de Reya's Private Equity team has advised Matt Davies, founder of Direct Ferries on the secondary buyout backed by ICG, including his reinvestment in the new portfolio company.

Established in 1999, Direct Ferries is an online travel agent and ferry ticket booking business. The company has 90 employees across its UK hubs of London, Brighton and Ipswich, and generated revenues of £270 million in 2022.

The multi-disciplinary team at Mishcon de Reya was led by Nadim Meer and comprised of lawyers from Mishcon's Private Equity group as well as Mishcon's Tax and Private Departments. The team included Allison Keyse, Joana Santos, Reem Kabour, John Skoulding, Stephen Elhabbal, Andrew Goldstone and Jess Scheps.

Nadim Meer, Head of Private Equity at Mishcon de Reya, commented: "We've worked with Matt on multiple occasions and it was a pleasure to have done so again. It allowed us to further demonstrate our expertise and market insight when it comes to advising business owners on exits to private equity – and the related complexities that come with such transactions."

Matt Davies added: "I've worked with Mishcon for almost a decade. During that time they've been a great partner for me, providing founder-focussed private equity experience. That was crucial during the initial buyout in 2016 with Livingbridge and again in this latest transaction. Throughout that time their ability to offer me a comprehensive range of PE, tax and personal advice has been first class."

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