David Wallace

David’s experience includes advising:

Restructuring & Special Situations

• The ad hoc committee of term, RCF, and L/C lenders to ARVOS, the global manufacturer and supplier of industrial equipment, heat exchange, and transfer solutions, on its c. €590 million debt and equity recapitalization transaction, implemented via a UK scheme of arrangement
• The ad hoc group of senior lenders to Vue Cinemas in relation to its initial c. €1 billion debt and equity restructuring transaction and subsequent recapitalization
• The noteholder committee in relation to the recapitalization and c. €1 billion debt and equity restructuring of Naviera Armas, a Spanish passenger and freight ferry services business
• The creditors committee in relation to the c. US$2 billion financing arrangements and comprehensive recapitalization of Flint Group, a global supplier to the printing and packaging sectors
• The senior creditors committee in relation to the Company Voluntary Arrangement (CVA) and subsequent c. £740 million debt and equity restructuring via a Part 26A UK restructuring plan of PizzaExpress, the UK and international casual dining group
• The senior creditors committee in relation to the c. £200 million debt and equity restructuring of FatFace, a UK-headquartered apparel retail business
• The creditors committee in relation to the c. €290 million recapitalization and debt and equity restructuring of AS Adventure, an outdoor clothing and equipment retailer
• The senior creditors committee in relation to the c. €410 million debt and equity restructuring of Curaeos, a Dutch-headquartered, pan-European dental clinics business
• The senior creditors committee in relation to the c. £620 million debt and equity restructuring of Doncasters Group, the UK-headquartered international manufacturer of high-precision alloy components
• Alcentra and KKR in relation to the recapitalization of global professional services provider Equiom, pursuant to which Alcentra became majority owner
• Alcentra in relation to the c. €155 million debt restructuring and distressed M&A of BVA, the French-headquartered global market research and consulting firm
• Addison Lee, the world’s largest managed group transportation service provider, on its recapitalization and sale of the UK business to a consortium of investors, and sale of the US business to a strategic investor
• The unitranche lenders on various other consensual and non-consensual recapitalization and restructuring transactions
• A large global asset manager on the structuring, negotiation, and execution of multiple liquid and illiquid stressed and distressed investment opportunities, governance arrangements, value creation initiatives, and exit strategies, as well as the implementation of various confidential European and US restructuring processes via UK schemes of arrangement, CVAs, share pledge enforcements, debt-for-equity swaps, administration sales, and new money rescue financings*
• An ad-hoc committee of senior bondholders on the complex and multi-jurisdictional €1.2 billion debt-for-equity financial restructuring of listed Spanish and Latin American gaming group Codere S.A. via a scheme of arrangement*
• The senior lender coordinating committees on the cross-border financial restructurings of McCarthy & Stone, the Euro Directories Group, Dinosol, and Marken*

Direct Lending / Financing

• The private debt funds of leading asset managers on various event-driven financing transactions, including Alcentra, Apollo, Bain Capital Credit, Goldman Sachs, Hayfin, HIG Whitehorse, Pemberton, and Temasek
• PRISA on the comprehensive refinancing of c. €1 billion of debt by way of new revolving, senior, and second lien facilities
• The direct lenders in relation to a:
  • c. €1.2 billion unitranche financing supporting the acquisition of a global visa outsourcing and technology services specialist
  • c. £630 million unitranche financing supporting the acquisition of a leading UK insurance brokerage business
  • c. £400 million second lien financing for Stonegate Pubs
  • c. £350 million public-to-private unitranche financing supporting the acquisition of The Restaurant Group plc
  • c. €300 million holdco PIK financing supporting the buy-out of certain minority shares of a global fintech company
  • c. €255 million unitranche financing supporting the acquisition of a French-headquartered, pan-European packaging group
  • c. €250 million unitranche financing supporting the refinancing of a German industrial insurance broker and certain follow-on acquisition opportunities
  • c. £75 million unitranche financing supporting the acquisition of a leading UK wealthtech business
• All aspects of investment structuring and execution for one of Europe’s largest and most active direct lending credit funds on over 60 new money private debt investments across the UK and Ireland, Benelux, France, Germany, Italy, and Spain, utilizing senior, unitranche, first-out, second-out, second lien, mezzanine, and holdco PIK financing structures, and numerous equity and warrant co-invests*

*Matter handled prior to joining Latham