Six BidCo Ltd acquires Sigma Capital Group plc
Paul Hastings LLP, a global law firm, is advising Six BidCo Ltd (a wholly-owned indirect subsidiary of investment funds managed by PineBridge Benson Elliot) on 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.
The Paul Hastings team is led by M&A partner Matthew Poxon 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.
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.