Thomson Snell & Passmore advise Cath Kidston on sale

11/04/2010

Thomson Snell & Passmore has advised new client Cath Kidston in relation to one of the most high profile private equity transactions of the last 18 months. Details of this case featured in The Lawyer, Finance Director, Accountancy Age, South East Business and Private Equity News.

The deal involved the sale of Cath Kidston Ltd (CKL) to a newly incorporated company owned by TA Associates and the CKL Management Team.

Creative Director and Founder, Cath Kidston, retains a substantial stake in the business and will continue to be involved in her current role. The firm represented Cath Kidston's personal interests on the sale and assisted in negotiating the terms of her ongoing involvement, both as a shareholder and employee.

Cath Kidston Ltd was founded in 1993 when designer Cath Kidston opened a shop in London's Holland Park, selling the vintage fabrics, wallpapers and brightly-painted junk furniture. Cath Kidston Ltd has expanded steadily to become the unique global lifestyle brand it is today. Currently there are 28 shops and concessions in the UK, five in Japan and two shops in the Republic of Ireland.

The Thomson Snell & Passmore team was led by Partner and Head of Corporate & Commercial, James Herbert, with Partner and Head of the Employment team, Nick Hobden, advising on employment matters. The firm also worked closely with Elizabeth Robertson and Richard Holme of Tunbridge Wells firm Creaseys, who advised Cath Kidston on tax matters.

Hammonds acted as legal advisers to the shareholders of CKL. Keystone Law advised the other members of the Management Team at CKL and Macfarlanes acted for TA Associates.

James Herbert said:

“We have thoroughly enjoyed working with Cath on what has been a fascinating deal.

The fact that signing was achieved in such a short timeframe from the point at which TA emerged as the successful bidder from the auction process is a testament to the commitment shown by everyone who was involved in the deal to work together to achieve a successful outcome.

Going forward we wish Cath and the other members of the Management Team every success as the company embarks on the next exciting stage of its development."

Cath Kidston commented:

"'I am delighted with the work that Thomson Snell and Passmore did for me recently on my sale transaction. James Herbert  and Nick Hobden provided me not only with top class advice but went that extra mile in guiding me through the process.  I couldn't recommend them more.

They also had the added advantage of being able to work closely with my neighbouring accountants, Creaseys, on the deal."