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Browne Jacobson advise investors Rcapital on acquisition of leading solar panel installation provider to the construction industry

20 September 2022

Browne Jacobson’s corporate lawyers have advised private investor, Rcapital on its acquisition of Leicestershire headquartered insulation and solar PV service provider, Avonside Energy Limited.

The deal, which also sees Avonside Renewables incorporated into the buyout will also save over 100 jobs across the UK.

Avonside Energy, which was a separate division of the Avonside Group and has a national operation, is a leading provider of solar panel installations to house builders throughout the UK. It is also part of the new build supply chain which works with Barratt Homes, Taylor Wimpey and Miller Homes amongst others.

Rcapital was established in 2004 and provides private investment, commercial expertise and hands-on support to transform and grow businesses. Since its inception, the business has made over 70 investments across the UK and Europe.

A multi-disciplined Browne Jacobson advisory team was led by partner Paul Hill, who leads the firm’s Energy & Infrastructure practice and partner Gavin Cummings. Paul and Gavin were assisted by senior associates Melanie Hilton, Clare Hanna and Rob Northall and associate Patrick Berry.

Paul Hill said of the transaction: “Rcapital are very experienced in investing and transforming businesses in the construction services sector so this acquisition will not only complement their portfolio but presents Avonside Energy with a secure future, and a great opportunity for further growth of its service line and capabilities.

“We were delighted to have had a multi-disciplinary team dedicated to this crucial rescue deal which has resulted in the protection of a significant number of jobs and securing investment into a business committed to furthering a sustainable future.

“Also, the deal is a great reflection of our growing reputation in the energy & infrastructure sector, reinforcing our firm commitment to supporting the net zero agenda. It was fantastic to work with Rcapital in acquiring a business like Avonside Energy who are passionate about helping to re-shape the UK energy market.”

Chris Campbell, Partner at Rcapital, said: "Avonside Energy is a profitable business and a significant employer across the country with an enviable blue-chip client base. We are delighted to be supporting Bill and his team and firmly believe that Avonside Energy will be integral to helping the UK achieve its decarbonisation strategy of net zero by 2050.

“We would also like to thank the fantastic advisory team at Browne Jacobson. As we have come to expect, they delivered a seamless service from start to finish on what was a particularly demanding timetable. The team’s diverse specialisms really stood out on this transaction, showcasing that they are not just great dealmakers but that they are experts in the energy  space, which makes navigating a deal of this complexity much easier.”

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