NEWS
Heatons advise on investment in renewable energy specialist
29/04/2011
Heatons advise on £2m investment in renewable energy deal
Press Release – April 2011
Heatons seals £2 million investment in renewable energy deal
Corporate solicitors at Manchester-based boutique law firm Heatons LLP have completed a deal that sees a serial investor in renewable energy projects kick off his latest venture.
Managing Partner Matt Fleetwood and Associate Anoushka Nanji worked to close the deal that sees Simon Rigby – the ex CEO of the utility services group Spice PLC sold to private equity investors last year and now a key player in the region’s renewable energy sector – invest circa £2 million in Kirk Environmental – the UK’s only company specialising in the manufacture of renewable energy containers.
Anoushka says that the transaction is a perfect fit for both parties:
“Kirk Environmental fits well with Mr Rigby’s investment profile – and his commitment and passion for renewable energy will be a huge boost for the business.
Whilst the corporate market remains sluggish as a whole, the renewable sector is witnessing a considerable degree of activity. Investors like Mr Rigby continue to be at the heart of this movement, and we are pleased to be working alongside these innovators to facilitate these deals.”
Kirk Environmental plans to expand its offering in the Far East, and Mr Rigby’s investment will provide capital for these expansion plans. He has taken a 33% stake in the business.
Matt Fleetwood points out that the deal is a demonstration of Heatons’ commitment to the evolving field of renewable energy:
“The firm has established itself as a leading advisor in the renewable energy field due to our commitment to understanding the wider industry and the commercial objectives of our clients.
As a boutique corporate and commercial firm, we are increasingly being instructed in preference to the larger multidisciplinary law firms as we are able to connect with our clients and work as part of one dedicated and focused team.”
Kirk Environmental was advised by Napthens.