Olswang has advised independent private equity firm Primary Capital Limited ("Primary") on the £35 million management buyout of The Leisure Pass Group Limited ("Leisure Pass").
Leisure Pass, based in London, is the world's leading provider of smart card-based multi-attraction tourist passes. The passes permit entry to a large number of selected visitor attractions in three of Europe's largest tourist cities - London, Paris and Berlin - and gives access to popular attractions including the Tower of London, Westminster Abbey, St Paul's Cathedral, Palace of Versailles, Musee du Louvre and Berliner Dom.
Olswang was able to draw on its extensive experience to advise long-standing client Primary on the significant opportunity presented by Leisure Pass's leading market position in the world's major tourist destinations. The deal was a highly complex transaction requiring expertise from throughout the firm including the corporate, finance, tax, employment, IP and commercial departments.
Primary's Alec Parkinson commented: "We were once again impressed by the high quality of service provided by the team at Olswang on a transaction that truly showed off the strength in depth of their offering."
Olswang Corporate Partner Stephen Rosen, commented: "We were delighted to advise Primary on the expansion of their portfolio by the acquisition of Leisure Pass which has both a driven management team and a distinct vision for growth in its market."
The Olswang team was led by Private Equity Partner Stephen Rosen and assisted by Fiona Twigg and Carsten Greve.
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Notes to editors
Olswang LLP is one of Europe's leading law firms in the areas of technology, media, telecommunications and real estate. The firm comprises of nearly 700 people including 100 partners, across seven European offices. Olswang is part of a 'best friends' network of leading independent law firms throughout the world.
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