Elizabeth Todd

Partner

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  • LPC, distinction, Nottingham Law School, 2006
  • BA (Hons) (Law), Cambridge University, 2005

Qualifications

  • England and Wales, Solicitor, 2008
  • Legal 500 UK (2022)

Insights

 

Elizabeth Todd

Partner

Sophisticated investors, large corporations and financial institutions worldwide turn to Elizabeth Todd for trusted counsel on their most critical business matters. With more than a decade of experience advising on cross-border and UK transactions—including private and public M&A, co-investments, joint ventures and direct investments—and general corporate matters, Elizabeth offers clients deep insight into market terms as well as a nuanced understanding of business trends across industries.

A partner in Ropes & Gray’s London office, Elizabeth regularly advises some of the largest global private capital investors, including private equity sponsors (and their portfolio companies), special situations funds, asset managers, sovereign wealth funds and family offices. She also counsels major international companies and financial institutions on a range of transactions and internal corporate activities.

Clients value Elizabeth’s responsiveness and her commercially minded approach to helping them achieve their business objectives. A self-described “numbers geek,” Elizabeth also brings value to her clients with her command of the financial and accounting aspects of a transaction.

In 2018, Elizabeth was featured by Legal Week as a “Rising Star” of the private equity legal industry, and in 2022, she was named by Law.com as a “Rising Star” in its best up and coming female lawyers in the UK category and also by PEI as one of its 40 under 40 Future Leaders of Private Equity 2022.

Experience

  • Advised funds affiliated with Baring Private Equity Asia on:
    • the acquisition of Tricor Group, Asia’s leading business expansion specialist whose corporate mission is to facilitate globalisation in Asia. The transaction valued Tricor at an enterprise value of $2.76 billion
    • the acquisition of IGT Solutions, formerly InterGlobe Technologies, from an affiliate of Apollo Global Management
    • the sale of the software firm Hexaware Technologies
    • the sale of Lumenis LTD. Surgical Business, a company that develops and commercializes energy-based medical solutions, to Boston Scientific
    • US$1 billion+ acquisition of Lumenis, the Israeli-headquartered global leader in the field of minimally-invasive clinical solutions for the aesthetic, surgical and ophthalmology specialties
    • their and PAI Partners’ acquisition of World Freight Company International, the global leader in the General Sales and Service Agent market
    • the purchase of approximately 18.85 million NIIT Technologies Limited shares—approximately 30% shareholding on a fully diluted basis in NIIT Technologies—from NIIT Limited and other promoter entities at a price of INR 1394 per share; and
    • the US$1.8 billion sale, alongside the Shanghai-based Bright Food Group, of British breakfast cereal brand Weetabix to U.S.-based cereal company, Post Holdings
  • Acting for TSG Consumer Partners on:
    • its acquisition of Cadogan Tate, a premium moving and storage business, specialising in fine art
    • its acquisition of a minority stake in Revolution Beauty; and
    • its acquisition of a minority stake in BrewDog, a Scottish craft beer
  • Advising Xerox on its acquisition of Go Inspire, a UK-based print and digital marketing and communication services provider
  • Acting for Astorg on the acquisition of the Fastmarkets business division of Euromoney Institutional Investor, as part of a £1.61bn take-private of the financial publisher of Euromoney by Astorg and Epiris
  • Advising Centerbridge on its PIPE investment in Landscape Digital’s acquisition of AP Wireless, since renamed as Digital Landscape Group
  • Acting for Avenue Capital on its disposal of Hawthorn Leisure, a chain of managed and tenanted pubs in the UK
  • Acting for an American multinational investment management corporation on multiple co-investments involving infrastructure and direct investments across multiple sectors in EMEA and Asia
  • Advised Baillie Gifford Overseas Limited:
    • on its PIPE investment into 468 SPAC (a publicly listed special purpose acquisition company) in connection with its business combination with Boxine, a category-defining international kids digital audio entertainment company and the company behind the Toniebox and Tonies figurines. The business combination valued Boxine at a pro-forma equity value of EUR 990 million
    • in connection with its minority investments in Spotify, Funding Circle, Souq Group and Home24
  • Advised Inflexion and other shareholders (including the management team) on the sale of Reed & Mackay, a premium corporate travel management and events business, to TripActions, a U.S.-headquartered business travel and spend management platform
  • Advised SC Health Corp., a special purpose acquisitions company, in its proposed merger with Rockley Photonics, Ltd, a leading integrated photonics chipset developer and module supplier for high-volume sensor and communication products
  • Advised Alibaba Group on:
    • its US$1.15 billion investment (in conjunction with Richemont, the Switzerland-based luxury goods group) in Farfetch Limited, a NYSE-listed leading global online luxury fashion retailer
    • its strategic partnership with Richemont and its joint venture with YOOX Net-A-Porter Group
  • Advised Sound United LLC, a portfolio company of Charlesbank Capital Partners, on its acquisition of Bowers & Wilkins, a leading designer and manufacturer of luxury home audio speakers, headphones, custom installation products, wireless speakers, and branded audio systems in the automotive and television markets
  • Advised Integrated Media Company (IMC), a TPG platform dedicated to the new media ecosystem, on the acquisition of a majority stake in Goal from the DAZN Group
  • Acting for Partners Group on multiple secondaries transactions
  • Advised the Asset Management & Investor Services Divisions of Mitsubishi UFJ Trust and Banking Corporation on its acquisition of Point Nine Limited
  • Advising Therium Capital Management in relation to certain investments in the legal services sector
  • Advising Fortress Investment Corporation in relation to certain investments in the professional services sector
  • Acting for Welsh, Carson, Anderson & Stowe on its public to private acquisition of Abzena plc, a UK-based biopharmaceutical services company
  • Acting for CDC Group, the UK’s development finance institution and the world’s oldest DFI, on its investment in M‐Kopa, a leading provider of off‐grid solar energy in East Africa
  • Advised a private fund with over $25 billion of assets under management, on the purchase and sale of various equity and real estate investments across Europe, including domestic and cross-border joint ventures often involving complex structures.
  • Acting for Codman Neuro – an affiliated company of Johnson & Johnson - on its acquisition of Irish stroke care company Neuravi Limited
  • Acting for Cathexis on its hostile takeover of ISG
  • Acting for Ensono, a leading hybrid IT services provider on the:
    • acquisition of leading UK-based hybrid IT services provider Attenda;
    • acquisition of Inframon, a UK-based cloud transformation company; and
    • reorganization of certain aspects of its UK business.
  • Acting for Intermediate Capital Group on the US$5.3billion consortium buyout of Visma, Europe's largest ever software buyout
  • Acting for Macquarie Capital in relation to Liberty Hall Capital Partners’ US$135 million acquisition of Dunlop Aircraft Tyres Ltd.
  • Acting for Nordic Capital on equity investment matters related to the acquisition of eResearchTechnology (ERT)
  • Acting for Smedvig Capital Limited:
    • in the sale of Tuskerdirect Limited to ECI Partners LLP
    • in a majority investment in Four Times Enterprises Limited (the holding company of Kings Court Trust)
  • Represented Marquee Brands LLC in its acquisition of British men’s clothing brand Ben Sherman and its related intellectual property assets from Oxford Industries, Inc.
  • Represented Bain Capital in its acquisition of TI Automotive for $2.4 billion
  • Represented Charlesbank Capital Partners in its acquisition of Six Degrees Group
  • Acting for European Capital on its leveraged buyout of Cordium, a provider of services to regulated firms
  • Advising a preeminent global US investment fund on its acquisition of a distressed portfolio of UK car showrooms through a pre-pack insolvency process.
  • Acting for Summit Partners on its joint venture with FleetCor to acquire UK-based Masternaut from Francisco Partners. Masternaut is a leading European provider of telematics solutions to commercial fleet customers in 32 countries
  • Acting for Summit Partners and Management on the disposal of the entire issued share capital of Actix International Limited to Amdocs Astrum Limited. Actix is a software business, which offers software analytics for faster and better mobile network optimization
  • Acting for Nordic Capital and its portfolio company CameronTec AB in CameronTec’s acquisition of the E2E Infotech Business including E2E Infotech Limited
  • Acting for Grove Limited and Barchester Healthcare Limited in connection with the sale of the entire issued share capital of Bluehood Limited, an entity which held Barchester’s property interests in 160 care homes in England, Wales, Scotland and Jersey accommodating approximately 10,000 residents. In connection with that sale, also advising on the leaseback of those care homes to Barchester’s operating company, Barchester Healthcare Homes Limited, under a series of master leases and on the redemption and/or refinancing of Barchester’s existing debt

Publications

Disclaimer

Ropes & Gray International LLP is a limited liability partnership registered in Delaware, United States of America and is a recognised body regulated by the Solicitors Regulation Authority (with registered number 521000).
  • LPC, distinction, Nottingham Law School, 2006
  • BA (Hons) (Law), Cambridge University, 2005

Qualifications

  • England and Wales, Solicitor, 2008
  • Legal 500 UK (2022)
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