A Travers Smith team led by firm senior partner Chris Hale and senior corporate associate Adam Orr has advised management on the acquisition of Nets Holding A/S. Advent International Corp., Bain Capital LLC and Danish pension fund ATP have agreed to buy the Nordic card-payment business for 17 billion kroner ($3.1 billion).
Nets provides payment solutions, card and information services and digital security solutions in the Nordic region and has 2,600 employees. Last year the payment processor handled more than six billion card transactions supporting more than 33 million payment cards and over 500,000 merchants in the Nordics.
The completion of the sale is subject to regulatory approval and is expected to close in the second quarter of 2014.
The Travers Smith team also included corporate associates Matthew Kichenside and Victoria Bramall. Travers Smith worked alongside Danish law firm Bruun & Hjejle.
Advent and Bain are being advised by Kirkland & Ellis LLP.
