Freshfields Bruckhaus Deringer and Kirkland & Ellis have bagged lead roles on Germany’s biggest leveraged buy-out to date as BC Partners acquires chemicals distributor Brenntag Holdings from Bain Capital for €3bn (£2bn).

Freshfields advised BC Partners, which is a longstanding client in Germany. Hamburg partner Nils Koffka, who co-head’s the magic circle firm’s private equity group, is spearheading the team, alongside London-based finance partner David Ereira and US-qualified London corporate partner Don Guiney.