Areas of Practice

Benjamin Wonnacott is counsel in Ropes & Gray's tax group. Before joining the firm, Benjamin worked in a front-office tax structuring role in the global markets division (equities) of a U.S. investment bank and in the tax department of a UK magic circle law firm. Benjamin has also previously been seconded to a leading Italian law firm.

Benjamin has broad experience advising on the UK taxation of corporate transactions, financial instruments, real estate transactions and fund investment structures as well as international taxation matters. His clients include multinational corporations, institutional investors, financial institutions, hedge funds, private equity funds and REITs. He also has experience of complex and high-value tax litigation matters and tax authority audits and investigations.

Experience

  • Advising PK Consumer Health, a portfolio company of Avista Healthcare Partners and Damier Group, on its agreement to acquire HealthAid Limited and HealthAid America, Inc., a leading supplier of high-quality VMS products to the independent pharmacy channel.
  • Acting for Chiesi Farmaceutici S.p.A. in an agreement to acquire KalVista Pharmaceuticals, Inc., a global pharmaceutical company dedicated to delivering life-changing oral therapies for individuals affected by rare diseases, in a transaction valued at approximately $1.9 billion.
  • Advising Virgin Media O2 on issuances of $500 million of 8.500% Vendor Financing Notes due 2033, €550 million of 7.500% Vendor Financing Notes due 2033, and £250 million of 8.875% Vendor Financing Notes due 2033, respectively.
  • Acting for PK Consumer Health, a portfolio company of Avista Healthcare Partners and Damier Group, on its acquisition of Puhdistamo – Real Foods Oy, a fast-growing Nordic player in the vitamins, minerals and supplements, sports nutrition and functional drinks markets.
  • Advising the Initial Purchasers on Entain plc’s debut high-yield bond offering of €500 million 4.875 percent Senior Secured Notes due 2031. Barclays Bank PLC, NatWest Markets Plc, Banco Santander, S.A., and Lloyds Bank Corporate Markets plc acted as Joint Global Coordinators and Physical Bookrunners, with Mediobanca - Banca di Credito Finanziario S.p.A., Merrill Lynch International, Morgan Stanley & Co. International plc, and Wells Fargo Securities International Limited acting as Joint Bookrunners.
  • Acting for Avista Healthcare Partners on its investment in PK Benelux, a key player in the market for vitamins, minerals, and supplements (VMS) in the Netherlands, through a strategic partnership.
  • Acting for Lee Equity Partners on its strategic partnership investment into Arcadian Risk Capital, a fast-growing, specialty managing general agent (MGA) with operations in Bermuda, Ireland, the UK, and the US.
  • Acting for CVC Capital Partners and its portfolio company System C Healthcare on the acquisition of CIS Oncology, a UK company which specializes in the creation and installation of innovative chemotherapy prescribing systems.
  • Advising Becton, Dickinson and Company in a definitive agreement to acquire Edwards Lifesciences' Critical Care product group, a leader in advanced hemodynamic monitoring solutions, for $4.2 billion in cash.
  • Advising H.I.G. Capital and Oxford Global Resources on the acquisition of Linksap Europe Limited, a UK-headquartered leading staffing firm specializing in SAP-related recruitment.
  • Acting for Partners Group on its acquisition of a majority stake in FairJourney Biologics, a leading antibody discovery contract research organization (CRO), from GHO Capital Partners.
  • Acting for American Investment Partners on the acquisitions of AquaShip and Intership, creating a leading global aqua service vessel operator.
  • Advising The Rise Fund, the multi-sector global impact investing strategy of TPG, on a definitive agreement with Stirling Square Capital Partners to acquire a majority investment in Outcomes First Group, a UK-based provider of education to young people and adults with autism, learning disabilities and other complex special educational needs.
  • Acting for NielsenIQ, a portfolio company of Advent International, on the sale of GfK consumer panel services to YouGov as a condition for the combination of NielsenIQ and GfK.
  • Advising Bridgepoint on the majority investment by Bridgepoint Development Capital IV, a fund focused on mid-market growth investing, in SK AeroSafety Group, the global market-leader in aviation safety component maintenance, repair and overhaul services.
  • Advising AtlasEdge, a leading pan-European edge data centre provider, on a scalable €725m loan financing (comprising €525m committed debt facilities and a further €200m uncommitted accordion) in relation to its acquisition of Datacentre One and further strategic M&A.
  • Acting for Adaptimmune Therapeutics PLC on its all-stock strategic combination with TCR Therapeutics Inc. to create a preeminent cell therapy company.
  • Acting for CVC Capital Partners’ portfolio company System C Healthcare on its acquisition of Scottish maternity and neonatal specialist Clevermed Ltd.
  • Acting for CVC Capital Partners’ portfolio company System C Healthcare on its acquisition of Oxford Computer Consultants Ltd, a leading British social care IT business.
  • Acting for Astorg on its acquisition of the Fastmarkets business division of Euromoney Institutional Investor, as part of the £1.61bn acquisition of the financial publisher of Euromoney by Astorg and private equity firm Epiris.
  • Advising Partners Group on its programmatic joint venture with Host Student Housing to build up a £1 billion UK purpose built student accommodation (PBSA) and co-living platform and on the joint venture’s first acquisition of a four-asset seed portfolio.
  • Acting for TPG Growth on its investment, alongside certain existing investors, in the acquisition of Musixmatch SpA, the leading global music data company and lyrics platform.
  • Advising 3i Group PLC on its investment alongside existing investor Volpi Capital in Digital Barriers, a leading provider of IoVT (Internet of Video Things) surveillance and security products.
  • Acting for TPG Capital and its portfolio company Footballco on the acquisition of Kooora, a Middle East digital sports publisher.
  • Advising TSG Consumer Partners on its acquisition of Cadogan Tate, a premium moving and storage business specialising in fine art.
  • Advising TSG Consumer Partners in relation to its acquisition of a minority stage in BrewDog, a Scottish craft beer company.
  • Acting for TPG Capital on the $4 billion acquisition, in partnership with Francisco Partners, of integration platform Boomi from Dell Technologies

Representative matters prior to joining Ropes & Gray include:

  • Acting for Trafigura in connection with its participation in the $13 billion acquisition of 98% of Essar Oil as part of a consortium including Rosneft PJSC
  • Acting for Coca-Cola Enterprises in its combination and merger with Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke to create Coca-Cola European Partners
  • Acting for PSP Investments on the €3.6 billion acquisition, in a consortium including Brookfield Infrastructure Group, APG Asset Management and Arcus Infrastructure Partners, of TDF SAS
  • Acting for Santander on various real estate and vehicle finance securitisation programmes
  • Acting for Alitalia on its €1.75 billion restructuring and partnership with Etihad Airways
  • Acting for a multinational alcoholic beverage client in a transfer pricing investigation by HM Revenue & Customs
  • Acting for Credit Suisse in its bank payroll tax litigation in the UK tax tribunal and high court
  • Acting for Bluecrest in its partnership tax litigation in the UK tax tribunal

Areas of Practice

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