Blake Lapthorn advises Econergy Limited on sale to British
Gas
Blake Lapthorn is pleased to announce that it
has successfully advised the shareholders of Econergy Limited on
the sale to British Gas, for £6.5 million in cash, of the remaining
81% of the company not already owned by it.
This transaction follows a £1 million
investment in Econergy made by British Gas in 2009.
Econergy is a market leader in biomass
heating, which uses renewable energy sources for combustion to
produce heat, offering a complete design, installation and energy
services package to domestic properties, businesses and public
sector customers. The acquisition supports British Gas’
strategy of helping customers reduce their carbon emissions through
a portfolio of renewable technologies.
The Blake Lapthorn team was led by client
partner Stephen Archibald and Mark Nixon from the firm's Corporate team in Southampton, with
assistance from a wide range of additional practice groups,
including the firm's Commercial IP/IT, Employment
and Tax teams.
Chris Miles, managing director of Econoergy,
said: "With no small thanks to Mark, Stephen and the team at Blake
Lapthorn, we were able to ensure that this deal was completed both
smoothly and efficiently."
For more details, please contact Daniel Baber, PR manager at Blake
Lapthorn on 020 7814 5489 or 07771 930 084, or at
daniel.baber@bllaw.co.uk.
