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Caroline Rae

Partner at Herbert Smith Freehills Kramer

Lawyer

London

Deal Bio

Total Deals28

Valued Deals20

Total Value£ 33.16 B

Avg. Deal Size£ 1.66 B

Market Context

Awards

2021 Top Female M&A Lawyers in EMEA

2021 Top M&A Lawyers in EMEA

2021 Top M&A Lawyers in the UK

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28 Feb 2017|United Kingdom|Banks

Target: CLEARBANK LTD

Bidder: CFFI UK VENTURES LTD

1 Service Providers

1 Target

8 Dealmakers

8 Target

£ 175 M

Value

08 Nov 2018|United States|Telecommunications Equipment

Target: ARRIS INTERNATIONAL PLC

Bidder: COMMSCOPE HOLDING CO INC

22 Service Providers

5 Target | 17 Bidder

74 Dealmakers

23 Target | 51 Bidder

£ 5.63 B

Value

29 Jul 2019|France|Diversified Retailers

Target: ITALIE DEUX

Bidder: AXA INVESTMENT MANAGERS

6 Service Providers

1 Target | 2 Bidder | 3 Vendor

15 Dealmakers

1 Target | 4 Bidder | 10 Vendor

£ 432 M

Value

11 Nov 2019|United Kingdom|Payments / Commerce

Target: PREPAID FINANCIAL SERVICES

Bidder: EML PAYMENTS

10 Service Providers

4 Target | 6 Bidder

9 Dealmakers

3 Target | 6 Bidder

£ 282 M

Value

16 Dec 2019|Canada|Entertainment

Target: CINEPLEX

Bidder: CINEWORLD GROUP PLC

17 Service Providers

5 Target | 12 Bidder

64 Dealmakers

10 Target | 54 Bidder

£ 1.57 B

Value

17 Feb 2020|United Kingdom|Investment Banking

Target: SHARE PLC

Bidder: INTERACTIVE INVESTOR SERVICES LIMITED

13 Service Providers

5 Target | 8 Bidder

32 Dealmakers

12 Target | 20 Bidder

£ 54 M

Value

21 Feb 2020|United Kingdom|Real Estate Services

Target: DAEJAN HOLDINGS PLC

Bidder: FRESHWATER GROUP

11 Service Providers

5 Target | 6 Bidder

26 Dealmakers

7 Target | 20 Bidder

£ 268 M

Value

18 Mar 2021|United Kingdom|Conventional Electricity

Target: WESTERN POWER DISTRIBUTION

Bidder: NATIONAL GRID

17 Service Providers

1 Target | 10 Bidder | 6 Vendor

106 Dealmakers

2 Target | 54 Bidder | 51 Vendor

£ 14.40 B

Value

18 Mar 2021|United States|Conventional Electricity

Target: NARRAGANSETT ELECTRIC

Bidder: PPL CORPORATION

14 Service Providers

1 Target | 5 Bidder | 8 Vendor

65 Dealmakers

1 Target | 10 Bidder | 54 Vendor

£ 2.74 B

Value

01 Mar 2021|United Kingdom|Insurance Brokers

Target: HEMSLEY WYNNE FURLONGE

Bidder: HAMILTON INVESTMENT

5 Service Providers

2 Target | 3 Bidder

15 Dealmakers

4 Target | 11 Bidder

n/a

Value

06 Apr 2021|United Kingdom|Payments / Commerce

Target: SENTENIAL LTD

Bidder: EML PAYMENTS

5 Service Providers

3 Target | 2 Bidder

12 Dealmakers

7 Target | 5 Bidder

£ 93 M

Value

17 Jun 2021|United Kingdom|FinTech

Target: NUTMEG

Bidder: JP MORGAN CHASE & CO

9 Service Providers

4 Target | 3 Bidder | 2 Vendor

30 Dealmakers

20 Target | 7 Bidder | 3 Vendor

£ 699 M

Value

08 Sep 2021|United Kingdom|Asset Managers and Custodians

Target: INNOVISK CAPITAL PARTNERS

Bidder: ABRY PARTNERS LLC

5 Service Providers

1 Target | 2 Bidder | 2 Vendor

9 Dealmakers

1 Target | 2 Bidder | 6 Vendor

£ 20 M

Value

02 Mar 2022|United Kingdom|Commercial REITs

Target: MCKAY SECURITIES

Bidder: WORKSPACE GROUP

12 Service Providers

5 Target | 7 Bidder

41 Dealmakers

24 Target | 17 Bidder

£ 277 M

Value

21 Mar 2022|United Kingdom|Banks

Target: CLEARBANK LTD

Bidder: APAX DIGITAL FUNDS

4 Service Providers

2 Target | 2 Bidder

18 Dealmakers

12 Target | 6 Bidder

£ 175 M

Value

09 May 2022|United Kingdom|Online and Social Platforms

Target: TROUVA

Bidder: MADE.COM

4 Service Providers

1 Target | 3 Bidder

23 Dealmakers

1 Target | 22 Bidder

n/a

Value

13 Jun 2022|United Kingdom|Transportation Services

Target: GO-AHEAD

Bidder: OPTRUST (OPSEU PENSION TRUST)

18 Service Providers

6 Target | 9 Bidder

70 Dealmakers

39 Target | 28 Bidder

£ 699 M

Value

01 Jul 2022|United Kingdom|Online and Social Platforms

Target: BOLERO.NET LTD

Bidder: WISETECH GLOBAL

3 Service Providers

1 Target | 2 Bidder

8 Dealmakers

1 Target | 7 Bidder

n/a

Value

02 Nov 2022|United Kingdom|Auto Technology

Target: SHIPAMAX

Bidder: WISETECH GLOBAL

4 Service Providers

1 Target | 3 Bidder

11 Dealmakers

1 Target | 10 Bidder

n/a

Value

27 Sep 2023|Thailand|Insurance Brokers

Target: DIRECTASIA

Bidder: IGNITE THAILAND HOLDINGS LIMITED

7 Service Providers

1 Target | 2 Bidder | 4 Vendor

32 Dealmakers

1 Target | 4 Bidder | 27 Vendor

n/a

Value

09 Oct 2023|United Kingdom|Banks

Target: METRO BANK PLC

Bidder: SPALDY INVESTMENTS

7 Service Providers

5 Target | 2 Bidder

19 Dealmakers

15 Target | 4 Bidder

£ 325 M

Value

16 Nov 2023|United Kingdom|Food Products

Target: HOTEL CHOCOLAT

Bidder: MARS INC

9 Service Providers

5 Target | 4 Bidder

39 Dealmakers

22 Target | 17 Bidder

£ 534 M

Value

11 Jan 2024|United Kingdom|Real Estate Services

Target: LXI REIT

Bidder: LONDONMETRIC PROPERTY

14 Service Providers

6 Target | 8 Bidder

59 Dealmakers

19 Target | 40 Bidder

£ 3.13 B

Value

15 Mar 2024|Ireland|Payments / Commerce

Target: NUAPAY

Bidder: GOCARDLESS

5 Service Providers

1 Target | 1 Bidder | 3 Vendor

6 Dealmakers

1 Target | 1 Bidder | 4 Vendor

n/a

Value

13 Sep 2024|United Kingdom|Conventional Electricity

Target: NATIONAL GRID ELECTRICITY SYSTEM OPERATOR (ESO)

Bidder: DEPARTMENT FOR ENERGY SECURITY AND NET ZERO

1 Service Providers

1 Vendor

15 Dealmakers

16 Vendor

£ 630 M

Value

09 Oct 2024|United Kingdom|Financial Data and Systems

Target: HAMILTON COURT GROUP

Bidder: MAREX GROUP

5 Service Providers

1 Target | 4 Bidder

23 Dealmakers

1 Target | 25 Bidder

n/a

Value

04 Dec 2024|Germany|Real Estate Holding and Development

Target: URW GERMANY

Bidder: UNIBAIL-RODAMCO-WESTFIELD

1 Service Providers

1 Vendor

14 Dealmakers

14 Vendor

n/a

Value

22 Jan 2025|United Kingdom|Real Estate Holding and Development

Target: GROSVENOR / NBIM JV

Bidder: GROSVENOR

3 Service Providers

3 Bidder

10 Dealmakers

10 Bidder

£ 1.20 B

Value