Press Release

Edif Group Sells to RINA

June 2, 2016

London – June 2, 2016 – Cooley advised the management team of Edif Group Limited ("Edif") on its sale to RINA S.p.A ("RINA"), the holding company of the multinational testing, inspection, certification and consulting engineering ("TIC-CE") group based in Genoa, Italy. RINA has signed a definitive agreement for the acquisition of the entire share capital of Edif, a portfolio company of Phoenix Equity Partners, for £118.5 million (approximately €151 million). Completion of the acquisition is subject to receipt of standard merger control clearances, with closing anticipated to during the second half of 2016.

Edif is a leading worldwide provider of a diverse range of TIC-CE services that serve to reduce risk, optimise performance and enhance the capability of its clients' assets. Edif is headquartered in London and employs approximately 650 employees and 2,500 associates in more than 20 offices internationally. Edif was founded as a Group in 2011 and has grown rapidly since inception, both organically and through strategic acquisitions.

The Cooley team advising on the transaction was led by private equity partner Stephen Rosen and included tax partner Natasha Kaye and corporate associate Ciaran Rooney.

"Stephen has been with us since the start of the Edif journey and has provided invaluable support and practical commercial advice throughout the last 5 years," said Rob Dilworth, CEO of Edif. "The Cooley team's work was impressive given the speed of this transaction and it was great to have their support and expertise alongside us during the negotiations."

On May 9, Cooley announced the enhancement of its global private equity group with the arrival of three prominent partners – Rosen from Olswang, Ron Hopkinson (NY) from Cadwalader and Eric Schwartzman (Palo Alto) from Weil, Gotshal.

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