TLT advises shareholders of cleantech innovation company
National law firm TLT has acted for the shareholders of cleantech commercialisation and development specialists EcoGenR8 Limited, which trades as AFECO, on its sale to leading infrastructure, construction and property services company, United Living Group.
United Living Group (UL) works collaboratively with customers, stakeholders, and the supply chain to provide solutions that support the growth and improvement of local communities and infrastructure. The acquisition of AFECO will add further expertise in the water, wastewater, waste, marine, energy and power sectors in which AFECO specialise.
The deal will see AFECO founder Abi Field and fellow seller Jamie Crouch remain with the business, bringing a wealth of sector knowledge and experience to UL.
TLT provided legal advice on all aspects of the sale. The team was led by corporate partner Ian Roberts, with support from legal director Kelly Clarke and senior associate Kirsty Wilson in the corporate team. The deal also involved cross-practice expertise with Will Birtwell from the real estate team; Julie Nixon in the commercial team; William Ngan and Olivia Curtis in the tax team; Oliver Sargent in the employment team; and Tom Green in the pensions team. The shareholders were advised by John Hunt and George Dalton from KBS Corporate throughout the process.
Commenting on the deal, EcoGenR8 founder Abi Field commented: “Our acquisition by UL is a positive for all parties. It provides further validation of the strength of AFECO’s business offering, and the team are looking forward to continuing our work and sharing our experience and expertise with new colleagues at UL.”
Ian Roberts, corporate partner at TLT added: “We were pleased to be able to get this deal over the line, alongside the team at AFECO. AFECO’s acquisition by a highly ambitious market leader in the infrastructure, construction and property services market demonstrates once again that the investment landscape is promising for businesses with a strong proposition.
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