Mishcon de Reya has successfully advised the shareholders of Embedded Finance Limited, known as Railsr, on its sale and their participation in a consortium with J.C. Flowers & Co. and TowerBrook Capital Partners. This consortium has acquired Equals Group plc for £283 million.
The offer for Equals has now become effective and completion of the sale of Railsr will occur shortly. Railsr provides Banking-as-a-service (BaaS) and cards-as-a-service (CaaS), allowing businesses and brands to integrate financial products directly into their user experience.
The Mishcon de Reya deal team was led by Corporate Partner Saul Sender with support from Partner Lydia Kellett, Managing Associate Liam Closey and Associate Alex Sandwell. Partner Charlotte Wilson and Associate Liam Croucher advised on financial regulation and Partner Gwen Ballin-Reeler advised on merger control and Foreign Direct Investment.
The transaction adds to Mishcon de Reya's recent take private experience, advising on Starlight Bidco Limited's £673.5 million acquisition.
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