LONDON, June 16, 2023 – Proskauer, a leading international law firm, announced today that it has advised financing partner Intermediate Capital Group ("ICG"), on its investment into Direct Ferries, a UK-based ferry travel aggregator service that provides bookings for ferry crossings across the globe.
The transaction involves a full exit and realisation for Livingbridge from their 2012 vintage fund, Livingbridge 5, together with a new follow-on investment alongside new investor ICG, the founder, and management.
Direct Ferries is a full-service online travel agent (“OTA”) and the world’s largest ferry ticketing business. The business services over 250 ferry operators across 4,000 routes and in 2022 generated 1.4 million customer bookings and revenue of £270m.
ICG is a long-standing client of Proskauer. The team has previously advised on ICG’s investment in Lucid Group, a strategic healthcare communications company and its investment in With Intelligence (formally Pageant Media), a leading global provider of news, insight and data to the asset management sector.
The Proskauer team advising ICG was led by partner Andrew Wingfield and included partners Vikki McKay and Mary Wilks, and associates Nicholas Wardle, Cassie Ditzel, Nabeel Vania, Benjamin Peacock and Kikelomo Lawal (Mergers & Acquisitions); partner Oliver Howley (Technology, Media & Telecommunications); partner Barry Newman (Finance); associates Natalia Quiroga Porkhoun, Sonia Lamba and Natasha Cacela (Private Credit); special regulatory counsel Amar Unadkat and associate Sulaiman Malik (Private Funds); special international labour & employment counsel Nicola Bartholomew and special international labour, employment and data protection counsel Kelly McMullon (Labour); and partner Stephen Pevsner and associate Emma McDonnell (Tax).
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Proskauer has one of the premier global mergers and acquisitions practices. The Firm has advised on some of the most complex M&A transactions across a range of industries, including in the private equity and asset management space.
