TLT advises shareholders of ABEC on sale to Magnesium

UK law firm TLT has advised ABEC, one of Europe’s leading independent Building Automation specialists, on its sale to private equity firm Magnesium Capital.

Formed in 2004, ABEC is one of Europe’s leading independent Building Automation specialists, providing Building and Energy Management System (BEMS), Electrical Power Monitoring Systems (EPMS) and Industrial Grade SCADA (Supervisory Control and Data Acquisition) and PLC (Programmable Logic Controller) solutions. Based in Tewkesbury, Gloucestershire, ABEC provides solutions to some of the largest data centre developers and contractors in the world, helping companies meet their ESG targets.

Magnesium Capital advises on investments in fast-growing technology and tech-led businesses at the forefront of the energy transition.

Magnesium’s acquisition, which has been supported by credit fund DunPort Capital Management, will drive ABEC’s next phase of growth and development.

TLT advised the shareholders of ABEC across the entire project, including supporting the shareholders in preparing ABEC for the sale to Magnesium Capital and advising on the sale documents and the investment documents.

The team was led by Andrew Webber and Leanne Fryer from TLT’s Corporate Team and involved cross-sector expertise from the firm’s Tax, Employment, Incentives and Financial Services Regulation Teams.

Matthew Morrall, Chief Executive Officer at ABEC said: “This is a very exciting milestone for ABEC and we were lucky to be supported during the process by a number of experts in their field. From a legal perspective, the TLT team added a lot of value and more importantly for me and the ABEC shareholders, were always flexible and responsive. Thanks TLT.”

Andrew Webber, Partner and Head of Corporate at TLT commented: “It was a pleasure to continue to support the shareholders and management of ABEC on their sale to Magnesium Capital. This is an ideal partnership that will not only support ABEC on its growth journey but will also help ensure that the growth of the core business continues responsibly alongside its customers reducing their energy consumption.”

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Andrew Webber

Partner, head of Corporate Bristol

+44 (0)333 006 0085 Email me