Stevens & Bolton LLP has advised ENER-G Holdings plc on the sale of its cogeneration division (“ENER-G Cogen”) to British Gas owner Centrica plc.
ENER-G Cogen has over 30 years’ experience and a strong track record in delivering end-to-end CHP solutions for industrial and commercial customers, and has around 1,400 units totalling over 500MW under contract with a growing customer book. The business operates predominantly in the UK but also has operations in the United States, Hungary, Italy, the Netherlands and Romania and has a strong, diverse customer base across private and public sectors. It also participates in Australia, Ireland, Japan, Canada and Turkey through sales partnerships with local entities.
The business will form part of Centrica’s new international Distributed Energy & Power business and complements Centrica’s existing capability in installing and managing distributed systems for customers in both the UK and US.
The seller’s continuing business includes renewable energy (including power generation from landfill gas, mines gas and anaerobic digestion); energy management solutions; community and district heating; and energy, carbon and water consultancy.
The Stevens & Bolton team was led by corporate partner Jenny Robertson, assisted by Tom West (corporate), Charlotte Tillett and Henry Milas (intellectual property), Jonathan Porteous and Robert Calleja (banking), Beverley Flynn and Ayesha O'Connor (commercial), Bethan Dodd (real estate), Kate Schmit and Sarah Balchin (tax), and Kerry Garcia and Michelle Hobbs (employment).
Tim Scott, chairman of ENER-G Holdings plc, said: “This was a complex and important transaction for us. The Stevens & Bolton team supported us throughout the deal, providing excellent strategic and legal advice, and worked tirelessly to achieve an excellent result.”
The seller was also advised by Van Doorne N.V. (Netherlands), Györfi-Tóth and Partner Law Office (Hungary), McDermott Will & Emery UK LLP (USA), Masotti & Berger (Italy) and Anghel Stabb & Partners (Romania).
Jenny Robertson