Ashurst, Freshfields Bruckhaus Deringer and Cleary Gottlieb Steen & Hamilton have secured the lead roles on the £668m take-private of UK chemicals manufacturer British Vita, bagging the latest in a string of US-backed private equity deals.

The leveraged bid sees Texas Pacific acquire the UK company via a scheme of arrangement, with the US financier instructing Freshfields as lead corporate counsel and Cleary handling financing and antitrust issues.