Six BidCo Ltd’s Acquisition of Sigma Capital Group Plc

Paul Hastings LLP advised Six BidCo Ltd on the deal, while Dentons advised Sigma Capital Group.

Six BidCo Ltd (a wholly-owned indirect subsidiary of investment funds managed by PineBridge Benson Elliot) announced its acquisition of Sigma Capital Group plc, a provider of Private Rented Sector housing in the UK.

The boards of Six Bidco Ltd and Sigma Capital Group plc this morning announced they have reached agreement on the terms and conditions of a recommended cash offer by Six Bidco for the entire issued and to be issued share capital of Sigma.

The Acquisition values the entire issued ordinary share capital of Sigma at approximately GBP188.4 million on a fully diluted basis and will be implemented by way of a Scheme, expected to become Effective in Q3 of the calendar year 2021.

This public to private transaction is the result of a Sigma-initiated strategic review and subsequent competitive sale process, which attracted strong interest from multiple well-funded parties.

PineBridge Benson Elliot is a pan-European real estate private equity specialist, bringing two decades of investment experience, deep market knowledge and in-house operational expertise to generate sustained investment outperformance.

The Paul Hastings team is led by M&A partner Matthew Poxon (Picture) assisted by senior M&A associate David Prowse. The team also included partner Garrett Hayes who led on the management incentive arrangements, Arun Birla who led on tax, Suzanne Horne who led on employment law and corporate associate Rebecca Denton.

The Dentons’ UK team is led by partners Brian Moore and Guy Norfolk and included Tax partner Lorna McCaa, Tax counsel, Alastair Macleod, Tax consultant, John Finnick and Corporate associates Gillian Cole and Annabel Mockridge.

Involved fees earner: Gillian Cole – Dentons; Alastair MacLeod – Dentons; Lorna McCaa – Dentons; Annabel Mockridge – Dentons; Brian Moore – Dentons; Guy Norfolk – Dentons; Arun Birla – Paul Hastings LLP; Rebecca Denton – Paul Hastings LLP; Garrett Hayes – Paul Hastings LLP; Suzanne Horne – Paul Hastings LLP; Matthew Poxon – Paul Hastings LLP; David Prowse – Paul Hastings LLP;

Law Firms: Dentons; Paul Hastings LLP;

Clients: Sigma Capital Group Plc; Six BidCo Ltd;

Author: Federica Tiefenthaler