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FRP has advised the shareholders of RenEnergy, a solar energy generation business based in the UK and South Africa, on its sale to global energy business Aggreko.
The corporate finance team at the firm, which was led by partner John Dodge, director Joanne Price and executive Lydia Kelsall, and supported by tax director Matt Field, acted as lead advisers on the competitive transaction.
FRP’s team “successfully” orchestrated and oversaw a worldwide sales process, identifying and engaging with more than 50 interested parties globally.
From the initial stages to the finalisation of the deal, the firm’s team played a pivotal role in originating, negotiating, and managing the entire transaction and offered hands-on support throughout the due diligence process, skilfully navigating the complexities of the cross-border elements and the associated partial re-investment process.
Additionally, FRP’s team provided comprehensive tax planning guidance to the UK owners, ensuring the adoption of the most tax-effective disposal structure.
This strategic acquisition comes at a time when the drive for a greener, cleaner world has never been stronger, with both businesses committed to being at the forefront of this transformation.
Jon Dodge, partner at FRP Corporate Finance, said: “We are delighted to have been able to originate this deal and to advise the shareholders on the transaction. The anticipated business synergies between Aggreko and RenEnergy will enable the combined business to deliver even more comprehensive and innovative renewable energy solutions.
“We congratulate the shareholders on having built a great business, which we expect to see go from strength to strength in the next stage of its continuing development.”
