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Corporate Team advise Hargreaves Services plc on £21m disposal

Walker Morris advises Hargreaves Services on sale of Brockwell Energy Limited

Walker Morris has successfully advised long-standing client Hargreaves Services plc on its sale of the entire share capital of Brockwell Energy Limited to Lantern Bidco Limited, a newly incorporated company backed by international investors experienced in UK energy infrastructure.

The initial gross proceeds, which have been paid in cash at completion, are £21m. A further £2m in cash may become payable, contingent upon the successful financial close of a future development project.

Hargreaves Services is a diversified group delivering services to the industrial and property sectors and a leader in solid fuel supply & bulk material logistics.

Walker Morris’ market-leading Corporate Team advised on the deal, led by partner John Hamer, and supported by Lauren Sinclair-Williams (Corporate).

Roger McDowell, the Chairman of Hargreaves, said:

“The Board is pleased to have completed the sale of Brockwell and wishes the new owners every success in the future development of Brockwell’s renewable energy asset portfolio.”

John Hamer, Corporate Partner, added:

“We’ve worked closely with Hargreaves Services over a number of years and so we are delighted to support them on this latest transaction.”

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