Simpson, Eversheds Help Oakley Invest in Testing Platform Phenna

Simpson Thacher & Bartlett is advising private equity firm Oakley Capital on its investment in Phenna Group, a UK testing and inspection platform, in a deal valuing the company at over $1.17 billion.

Eversheds Sutherland said it’s acting as lead counsel to Phenna shareholders, including private equity firm Inflexion, a longtime client. Phenna’s co-founders, CEO Paul Barry and chief financial officer David Harrison, are reinvesting into the business, according to a statement.

Oakley said its investment will enable Phenna to continue expanding into new industry sectors and locations.

Simpson said it’s also counseling London-based Oakley on its acquisition of CTS ...