International law firm Simmons & Simmons has acted for UK-based private equity (PE) firm Broadsword Investment Management on its acquisition of Powerleague.
Under the deal for an undisclosed sum, Broadsword - a PE firm specialising in real estate-backed growth opportunities - will retain Powerleague's existing management team, supporting them to deliver an ambitious new growth strategy.
With over 9 million customers annually, 43 clubs and 250 third party venues, Powerleague is the UK's original and premier provider of commercial small-sided football, boasting a significant national presence.
An experienced, multidisciplinary Simmons team offered comprehensive support to Broadsword, advising them on all aspects of the deal from inception to completion. The team was led by partner and UK head of private equity Richard Kyle and partner and head of UK real estate Ali Crosthwaite.
The support included guiding Broadsword on the establishment of the investment vehicle, the capital raise, the regulatory aspects, the acquisition, the management incentive plan, the real estate portfolio, tax, employment and banking aspects of the transaction.
Commenting on the deal, Richard Kyle said: "It has been rewarding to support Broadsword on all aspects of this significant transaction, by providing our leading expertise across our private equity and real estate teams throughout the entire lifecycle of the deal. We congratulate both parties on forming a partnership that promises major growth opportunities."
Ali Crosthwaite commented: "This deal for Broadsword will deliver both exciting expansion opportunities for Powerleague as well as important grassroots investment for communities across the UK. It is also a major milestone in Broadsword's growth trajectory, following its purchase of APO Group last year, as a market-leading vertically integrated real estate investment and management company."
