The Press and Journal (Inverness, Highlands, and Islands)
Highlights of the big deals
JANUARY AAB
• Financial due diligence and vendor support to AAB Wealth in acquisition of Kilkee Financial Services.
Brodies
• Acted for majority shareholders of Aberdeenshire and Louisiana-based Romar Abrado in sale of Romar Abrado to oilfield services firm Archer Assets UK.
• Advised Ramco Group on reorganisation and incorporation of Ramco Pipetech.
Burness Paull
• Advised Archer in its $8 million (£6.4 million) acquisition of RomarAbrado.
CMS
• Acted for KSG International in its acquisition of SureClean Holdco Limited (ii) National Response Corporation (Angola) and (iii) NRC (BVI) Ltd (British Virgin Islands), companies involved in the industrial cleaning sector.
Deloitte
• Acquisition due diligence (financial and tax) and sales and purchase agreement (SPA) support in Aggreko’s acquisition of US heating, ventilation and air conditioning business of Resolute Industrial.
Johnston Carmichael
• Advised shareholders of Romar Topco, t/a RomarAbrado, on sale to Archer Assets UK.
FEBRUARY AAB
• Acted on behalf of Expro in acquisition of DeltaTek Global.
• Acted on behalf of North Sea Compactors in disposal to First Integrated Solutions.
Aberdein Considine
• Advised shareholders of Kindergarten (Scotland) on disposal of entire issued share capital of unnamed company.
BGF
• £2m investment in STC Insiso led by Keith Barclay. The Aberdeenheadquartered business received investment from BGF to support its evolving suite of software products, used across industries including oil and gas, construction, marine and utilities.
Brodies
• Acted for shareholders of DeltaTek Oil Tools in sale of the entire issued share capital of the company to Exploration and Production Services (Holdings).
• Acted for management team of Global Energy (Engineering & Construction) in disposal of 100% of issued share capital in the company to SCF Partners and separately advised it on legal aspects of reinvestment of proceeds from the disposal.
CMS
• Acted for Exploration and Production Services (Holdings) (Expro)’s acquisition of DeltaTek Oil Tools.
• Acted for the seller, Gigabox, on its disposal of special purpose vehicle (SPV) Glendevon. Gigabox had developed plans for a wind farm/ battery energy storage system and sold these options.
Deloitte
• Acquisition due diligence and SPA support on completion process for SCF Partners’ acquisition of Global E&C.
Johnston Carmichael
• Advised 8to8 Dental Scotland on acquisition of Forres Dental Care, together with the business and certain assets of the partnership t/a Forres Dental Care.
MARCH AAB
• Financial due diligence and vendor support to Langfields (Envoy Group) in acquisition of JGC Engineering.
• Financial due diligence and vendor support to AAB Group in acquisition of Dominion Systems Inc (US).
Addleshaw Goddard
• Advised Waldorf on issue of up to US$200m of Nordic secured bonds by Waldorf Energy Finance to be used for general corporate purposes of the Waldorf Group.
• Advised management team of Verlume Holdings on £6.6m investment by Scottish National Investment Bank. Par Equity, an existing investor, also invested an additional £600,000 into the business.
Brodies
• Acted for the sellers of Brighton Road Development.
• Acted for Parklands in respect of acquisition of two care homes from Craigard Homes.
• Advised Robin Forsyth on sale of CP (Electric) (t/a FuseBox) to LED Group (t/a Robus Lighting), a leading international LED lighting brand.
CMS
• Acted for First Integrated Solutions in First Tech Solutions’ acquisition of North Sea Compactors.
• Acted for Constantine Energy Storage in acquisition – backed by £400m of funding – of HD639LEG, HD777FRY, HD144WHI and HD888CAP.
Pinsent Masons
• Advised Canadian integrated energy company Suncor Energy on $850m (£655.5m) sale of its UK exploration and production business to Norwegian state-owned energy company Equinor UK.
• Advised refining, storage, distribution and sales conglomerate Prax Group on £249m acquisition of AIM-listed exploration and production company Hurricane Energy.
APRIL AAB
• Advised management team of Linnet Technology on management buyout of Linnet Holdings.
• Financial due diligence and vendor support to AAB Group in acquisition of French Duncan.
Addleshaw Goddard
• Advised shareholders of Envevo and Envevo Civil Engineering on acquisition of entire issued share capital of those companies by Power Delta Bidco, a newco incorporated by Towerbrook Capital Partners.
• Advised Bridge UK Bidco and CBPE Capital on private equity investment in Berg Kaprow Lewis. • Advised Archer UK on acquisition from Baker Hughes of its coil tubing and pumping business in the UK.
Brodies
• Acted in sale of SPV holding the Capella Court development in London.
CMS
• Acted for Statkraft UK in its acquisition of Peel NRE Wind Farms (No 1) and Peel NRE Wind Farms (Yell).
• Acted for Hamish Garland and others in Elm Wind Holdings’ acquisition of Ardgrain Renewables.
Johnston Carmichael
• Financial due diligence on behalf of Puma Private Equity for investment in Iris Audio Technologies.
Ledingham Chalmers
• Acted for shareholders of Alarm Maintenance Company in sale of 100% of issued share capital of the business to Scutum Group UK, part of Franceheadquartered Scutum Group.
MAY AAB
• Acted on behalf of IKM Consulting in disposal to GEG Capital.
Aberdein Considine
• Advised shareholders of IKM Consulting on disposal of 60% of issued share capital of unnamed company.
Brodies
• Acted in acquisition of Hyde Harrington by DM Hall.
• Acted for family business DR Macleod in sale of its haulage business and assets to DFDS Logistics, a leading ferry and logistics firm.
• Acted for Reflex Vehicle Hire on its acquisition of Hireway Rentals.
Burness Paull
• Acted for Drilling Tools International Inc in acquisition of tools package.
Johnston Carmichael
• Financial due diligence in relation to business in the oil services sector.
Pinsent Masons
• Aberdeen corporate team advised TotalEnergies on its acquisition of 50% stake in the Formosa 3 offshore wind project, located offshore Taiwan, from Japanese utility Jera, as well as its joint venture arrangements with continuing project partner Corio Generation.
Piper Sandler
• Acted for Interwell in acquisition of Iconic AS.
JUNE Brodies
• Acted for RockRose Energy in acquisition of entire issued share capital of Spark Exploration from Spark Energies.
• Acted for Reda Energy in purchase of chemicals yard at Altens Industrial Estate, Aberdeen.
Burness Paull
• Acted for bosses of Axis Well Technology Management in sale of company to RSK Group.
CMS
• Acted for Equinor UK in $850m (£674.5m) acquisition of Suncor Energy UK.
• Acted for Vattenfall in Greencoat UK Wind Holdco’s £320m acquisition of South Kyle Wind Farm.
Johnston Carmichael
• Tax due diligence in relation to business in the technology sector.
KPMG
• Acted for Elysian Capital in sale of Axis Well Technology Group, the UK’s largest independent well and reservoir consultancy, to RSK Group.
Ledingham Chalmers
• Acted for shareholders of 23 Degrees Renewables in sale of 100% of issued share capital of the business to OEG Renewables Group, part of OEG Group.
Pinsent Masons
• Advised AIM-listed Jersey Oil & Gas on $160m (£127m) sale of 50% interest in the Greater Buchan Area in the UK North Sea to Neo Energy, an established North Sea operator backed by HitecVision.
Piper Sandler
• Acted for Axis Well Technology in its acquisition by RSK Group.
JULY
Addleshaw Goddard • Acted for Alcemi
Storage Developments in relation to its partnership with Copenhagen Infrastructure Partners for the development, construction and operation of four-gigawatt portfolio of energy storage assets across the UK.
BGF •
Multi-million-pound follow-on investment into Scottish Dental Care (SDC) Group led by Chris Nixon. A national provider of NHS and private dental treatments, DC operates clinics across the central belt, Dumfries and Galloway, and Grampian. • Exit from Stats (UK) led by Richard Pugh. BGF had invested a total of £16m for a minority equity stake to support the company’s ambitious growth plans. BGF funding allowed Stats to invest in people and product, as well as supporting expansion of its international footprint in key overseas markets. Today, the Kintore-based energy services firm has 350 staff globally and turnover of more than £60m, having quadrupled in size since BGF’s initial investment.
Brodies •
Advised Abu Dhabi National Oil Company on corporate structuring and governance of its subsidiary and jointventure company interests.
Burness Paull •
Advised Plug Shore Power in joint venture with Montrose Port Authority.
CMS •
Acted for Temporis Impact Strategy in its acquisition of Green Nation battery projects, including one in Fraserburgh, from Jonathan Thompson.
Deloitte
• Vendor due diligence (financial and tax) in acquisition of PD&MS Group by RSK Group.
Johnston Carmichael
• Financial due diligence on behalf of Puma Private Equity for investment in Thingtrax.
KPMG
• Acted for Japan’s Mitsui in its acquisition of 100% of Stats (UK), which manufactures proprietary
energy pipeline repair equipment and provides engineering services worldwide.
Ledingham Chalmers
• Acted for shareholders of Reid for Speed in sale of entire issued share capital of the business to Alliance Automotive Group.
Piper Sandler
• Acted for PD&MS in is acquisition by RSK Group. PwC
• Corporate finance team advised shareholders of Stats Group on sale of entire share capital to Mitsui.
AUGUST AAB
• Financial due diligence and vendor support to CJ Lang in acquisition of ScotFresh.
• Acted on behalf of GP Smart in disposal to Sellars.
Aberdein Considine
• Advised Christopher and Caroline Thompson on acquisition of entire issued share capital of Bedi Oralcare.
• Advised Whitebox Drinks on equity investment.
• Advised Stats Group on disposal of entire issued share capital to Mitsui.
Addleshaw Goddard
• Advised shareholders of BMM Energy Solutions on sale of entire share capital of the business to Drax Energy Solutions.
Brodies
• Acted for Nerlana Group in its purchase of entire issued share capital of Marfern.
Burness Paull
• Acted for management of Zander Topco (Asco) in sale of the company and whole group to private equity firm Endless.
• Acted for Highland Fuels in transfer of shares to employee ownership trust.
• Advised Inspire (Partnership Though Life) in its merger with Community Integrated Care.
CMS
• Acted for Green Cat Hydrogen in deal with RWE.
• Acted for Dye & Durham in Aurelius IV UK AcquiCo Six’s £91m acquisition of
TM Group (UK).
Deloitte
• Vendor due diligence (financial and tax) in acquisition of Asco Group by Endless.
• Acquisition due diligence (financial and tax) and SPA support in acquisition of JP Film and TV by Aggreko.
• Vendor due diligence (financial, operational and tax) and SPA support in acquisition of Kentech by Nesma and Partners.
Piper Sandler
• Acted for Asco in its acquisition by Endless.
SEPTEMBER Aberdein Considine
• Advised GHC Healthcare on acquisition of business and assets of Gorebridge pharmacies from Lloyds.
Brodies
• Advised Binn Group on joint venture with Paprec Energies UK to build, own and operate an energy-from-waste plant at Glenfarg in Perth and Kinross.
• Acted in purchase, by PLH In The Highlands UK, of the entire issued share capital of Moness Group, which operates the Moness Resort in Aberfeldy.
• Acted for Archer Knight, which acquired entire issued share capital of Singapore-based Energy Maritime Associates.
• Acted for Habu Holding on the Scots law aspects of the merger of Phuel Oil Tools and Dwellop AS.
• Acted for Ambassador in acquisition of holiday park businesses from the RoyaleLife Group (in administration).
Burness Paull
• Acted for Cofra in its additional investment in Intelligent Growth Solutions.
CMS
• Acted for Gigabox in FEIP 2 UK Holdco’s acquisition of Braco Energy Storage.
Johnston Carmichael
• Financial due diligence on behalf of Puma Private Equity for investment in TravelLocal.
Pinsent Masons
• Aberdeen corporate team advised EDF Renewables UK & Ireland on its acquisitions of Solar
Advanced Systems and The Ethical Renewable Company, a business specialising in providing solar technology for use in the commercial and industrial sectors.
OCTOBER AAB
• Financial due diligence and vendor support to AAB Group in acquisition of Elstan HR.
Aberdein Considine
• Advised partners of Meston Reid & Co on merger with MHA.
• Advised shareholders of Dalgarno Chemicals & Oils on disposal of entire issued share capital of company.
• Advised Fuarain Skincare on acquisition of business and assets of the company.
BGF
• Follow-on investment in Orbex, of Forres – £40.4m Series C funding (BGF, Scottish National Investment Bank, Heartcore Capital, HighTech Grunderfonds, Octopus Ventures, Jacobs, Danish Green Future Fund, Verve Ventures, and Phillip and James Chambers).
Brodies
• Advised on joint venture between Tristan Capital Partners and Queensway in purchase of a 63,195sq ft office property on St Andrew Square, Edinburgh, from Patrizia Hanover PUT.
• Acted in acquisition of entire issued share capital of Jupiter Argyle by PGIM Real Estate (UK).
• Acted for Emco in purchase of Cothal House, Cothal View, Pitmedden Road, Dyce, Aberdeen.
CMS
• Acted for The Energy Workshop in Boat of Garten joint venture deal. Johnston Carmichael
• Financial due diligence on behalf of Puma Private Equity for investment in Bikmo.
Pinsent Masons
• Aberdeen energy team acted as UK counsel for Aker Solutions Holding AS on $3.5 billion (£2.8 billion) energy services joint venture with Schlumberger BV and Subsea 7 Holding (UK).
• Aberdeen corporate team advised Scirocco Energy on sale of 25% interest in Ruvuma PSA (onshore Tanzanian oil and gasfield) to ARA Partners.
• Aberdeen corporate team advised Dubaiheadquartered well completion specialist Praxis Completion Technology FZCO and its Saudia Arabian subsidiary on sale of business to The WellBoss Company.
• Aberdeen corporate team advised on sale of 25% interest in Ruvuma PSA (onshore Tanzanian oil and gasfield) by Scirocco Energy to ARA Petroleum.
Piper Sandler
• Acted for CWind in its acquisition by Inspirit Capital.
• Acted for Praxis Completion Technology in its $22m (£17.5m) acquisition by SchoellerBleckmann.
• Acted for Venterra Group in its acquisition of Cape Holland.
NOVEMBER AAB
• Acted on behalf of Dalgarno Chemicals in disposal to Waymurr.
• Financial due diligence and vendor support to Ross-shire Engineering in acquisition of Chem Resist. Aberdein Considine
• Advised shareholder of Corner Shop Public Relations (Scotland) on disposal of entire issued share capital of the company.
Addleshaw Goddard
• Advised Lloyds Pharmacy and its parent, Hallo Healthcare Group, on disposal of Lloyds Pharmacy high street and community pharmacy branches to multiple purchasers. In Scotland, the Aberdeen corporate team advised on sale of 37 Lloyds Pharmacy SPVs by client to 27 different buyers.
• Advised Waldorf Production on sale of non-operating stakes in oil and gas leases and certain overriding royalty interests located on the outer continental shelf of the US.
• Advised MacGregor (GBR) on sale of its
51% stake in Flintstone Technology to Bridon
International.
• Advised Simmons Private Equity II LP (SPE) on merger of Pryme Group Holdings and Three60 Energy.
Brodies
• Acted for Three60 Energy in purchase of entire issued share capital of Flexlife.
• Acted for Three60 Energy in purchase of entire issued share capital of Pryme Group Holdings.
Deloitte
• Acquisition due diligence (financial and tax) in acquisition of Ace Winches by Ashtead Technology.
KPMG •
Acted for OEG Renewables in its acquisition of Bluestream Offshore, a specialist in subsea and topside services based in the Netherlands. Pinsent Masons
• Aberdeen corporate team advised Tullow Oil on disposal of Dutch subsidiary holding interests in Orinduik field in Guyana.
Piper Sandler
• Acted for Premier Hytemp in its acquisition by Souter Investments.
• Acted for Ace Winches in its acquisition by Ashtead Technology for £53.5m.
DECEMBER Aberdein Considine
• Advised Newton Property Management on acquisition of business and assets of Morison Walker Property Management.
Addleshaw Goddard
• Advised Lime Rock Partners V, LP and Equinor Ventures AS on £35m sale of entire issued share capital of Silixa to US company listed on the Nasdaq exchange.
• Advised BGF on its investment into Trojan Energy, alongside the Scottish National Investment Bank. Total investment was £26m.
Brodies
• Acted as Scots counsel in Apollo Management International’s acquisition of The Restaurant Group.
• Acted in sale of Aberdeen Energy and Innovation Parks.
Burness Paull
• Acted for Baker Hughes in sale of its Montrose machining facility to AME International.
• Acted for EDP Renewables in acquisition of 50-megawatt battery storage Balnacraig project from Intelligent Land Investments Group.
CMS •
Acted for Trojan Energy in £26m investment in the business.
Deloitte •
Financial due diligence in disposal of minority stake in Moray East offshore wind farm to Equitix.
Johnston Carmichael •
Advised shareholders of Glacier Energy Services Holdings on sale to Averroes Capital.
Pinsent Masons •
Aberdeen corporate team advised EDF Energy Renewables on auction sales process for 100% of the rights to three separate Scottish onshore wind projects.
• Aberdeen corporate team advised AGP Sustainable Real Assets – the Singapore-headquartered infrastructure development and asset management group – on launch of AMPYR Distributed Energy, a new business focused on the development, ownership and operations of B2B energy infrastructure in Europe.
• Aberdeen corporate team advised Scirocco Energy on the sale of its investment in Energy Acquisitions Group, a platform targeting investments in the anaerobic digestion market, to OrbeNovo Capital.
Piper Sandler •
Acted for McIntyre Partners in firm’s acquisition of Moreld AS.
PwC
• Corporate finance team advised shareholders of Silixa – a UK-based leader in distributed fibre optic sensing solutions – on its sale to Luna, a US-listed leader in advanced fibre optic-based technology.
• Corporate finance team advised Intelligent Land Investments Group on sale of its Red John pumped storage hydro scheme to Statkraft AS.