A Travers Smith team led by corporate partner Helen Croke advised new client PAI Partners SAS ("PAI") on the management buyout of Vacant Property Specialists ("VPS"), the provider of security, maintenance and management solutions in respect of vacant properties.

VPS secures more than 50,000 properties and employs over 900 staff in over 50 locations across the UK, France, The Netherlands, Germany, Ireland, Italy and Spain, operating across a wide range of customer and industry sectors.

PAI is a leading European private equity firm with offices in Paris, London, Luxemburg, Madrid, Milan, Munich and Stockholm and manages €5.8 billion of dedicated buyout funds.  It is one of Europe's oldest and most experienced investors with its origins dating back to the original investment business of Paribas, which started operations in 1872.

Corporate partner Helen Croke was supported by corporate associates Will Yates and Naveed Anwar.  Tax advice was provided by Richard Wild.

TDR Capital, the selling institution, was advised by Linklaters with Macfarlanes advising the VPS management team.