Dechert Advises Barings in Its Funding to Support the Acquisition of CitNow by Livingbridge
July 26, 2022
Dechert LLP represented longstanding client Barings, one of the world's leading investment managers, in its provision of funding to support the acquisition of a majority stake in the CitNOW Group by Livingbridge, a leading mid-market private equity investor.
The funding by Barings supporting Livingbridge’s investment enabled Barings to deepen its existing relationship with CitNOW, a leading vertical SaaS platform providing a suite of front-office products to automotive dealerships.
Livingbridge recently acquired a majority stake in CitNow from Tenzing Private Equity, a European mid-market tech investor, who together with the incumbent management, will materially re-invest into the Group as part of the transaction.
The cross-practice London-based Dechert team that advised Barings includes global leveraged finance co-heads David Miles and Philip Butler; private equity partner Mark Evans; global finance counsel Bishoy Eskander; global finance associate Saahil Sheth; private equity associate Richard Murdoch; and global tax senior associate Nicolas Kokkinos.
About Dechert
Dechert is a leading global law firm with 22 offices around the world. The firm advises on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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