UK and Ireland law firm Browne Jacobson has successfully advised leading mid-market private equity firm LDC on its investment in Stonbury - the leading UK water and environmental sustainability specialist.
The national business, headquartered in Bedfordshire, has a 40-year heritage of working with UK water companies and environment agencies to deliver innovative, low-carbon solutions to maintain, repair and refurbish their critical assets, from drinking water provision to wastewater treatment, helping to protect supplies and extend asset lives.
With LDC’s backing, the business will now push on with its long-term growth plans, which include expanding its range of water, wastewater and nature-based, low-carbon environmental services.
The Browne Jacobson corporate finance team advising LDC comprised partner and head of corporate finance, Richard Cox who led on the acquisition along with senior associate Matt Bolton, assisted by associate Jack Milnthorpe. Head of private equity and partner Gavin Cummings and partner Sandra Wong led on the equity aspects of the deal along with associate Matthew Dorman. Partner Zoe Stollard supported on the infrastructure elements of the deal whilst partner Shaun McCabe and senior associate Chereta Edmeade led on the debt finance elements of the transaction.
Richard Cox said: “We are proud to have worked alongside LDC and Stonbury in delivering this fantastic transaction. Stonbury has built a strong reputation as a leading direct delivery partner to the UK’s water industry. It has a strong focus on ESG and provides many of the country’s leading water companies with sophisticated and sustainable water infrastructure solutions. We wish LDC and Stonbury’s management team, led by Trevor Hoyle, every success on the exciting journey ahead.”
Browne Jacobson partner Paul Hill who heads up the firm’s Energy & Infrastructure sector added: “This transaction not only showcases the depth and expertise of our sector-aligned teams in the energy and infrastructure sphere but also adds to our credentials in the water sector and reinforces our firm ambition to support the net-zero agenda.”
LDC has over 40 years’ experience in backing ambitious management teams across various sectors and regions of the UK economy. The LDC deal team was led by partner David Bains and included investment managers Nicole Wong and Mikayil Salahov.
David Bains, Partner and Head of East Midlands and East of England at LDC added: “LDC is committed to helping companies that contribute to a more sustainable future. Stonbury’s clear purpose focuses on sustainability and its experience and expertise over many years make it well-placed to support the water and environment industries in mitigating the impacts of climate change.
“We’re looking forward to supporting Trevor and the rest of the management team to continue building Stonbury into one of the UK’s leading critical infrastructure services businesses.”
Browne Jacobson’s award-winning corporate finance practice operates from the firm’s Birmingham, London, Manchester and Nottingham offices. It is supported by over 50 corporate and banking & finance expert lawyers who advise domestic and international clients on a full spectrum of corporate issues, from major strategic transactions, such as mergers and acquisitions (M&A), private equity, venture capital and development capital investments, joint ventures and corporate reorganisations to regulated corporate work such as initial public offerings (IPOs) and cross border restructuring.
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