Linklaters has provided legal counsel to Warburg Pincus, a global private equity firm, in its acquisition of a minority equity stake in United Trust Bank (UTB). This deal values UTB, a prominent UK specialist bank, at approximately £520 million.

UTB has been enhancing its business and brand for over two decades, focusing on attracting top talent, expanding its product offerings, and maintaining a disciplined growth strategy. Currently, the bank serves around 60,000 deposit customers and boasts total assets nearing £4 billion.

The acquisition is pending regulatory approvals and aims to bolster UTB's ongoing growth and facilitate its expansion into new product areas.

The Linklaters team involved in this transaction was led by Alex Woodward, Co-Head of the firm’s Global Financial Sponsors group, and Corporate/M&A partner Fionnghuala Griggs. They were supported by a diverse group of associates and partners specializing in various legal areas, including banking, financial regulation, tax, antitrust, and intellectual property.

This strategic investment by Warburg Pincus is expected to enhance UTB's capabilities and market presence, further solidifying its position in the UK banking sector.