Opus is pleased to have advised the shareholders of ChargePoint Services on its sale to ENGIE, the leading energy and services business, headquartered in France. ChargePoint Services is a UK provider of integrated EV charging solutions, and the owner and operator of the nationwide pay-as-you-go GeniePoint network. The acquisition supports ENGIE’s strategic ambitions to be a leader in zero carbon transition and to help tackle air quality in cities.
This is an important transaction for Opus and builds on our leadership in Sustainability where we are active across a broad spectrum of businesses involved in the low carbon energy transition.
Please contact John McElroy, Stuart Schofield or Joe Roberts for further information.
Opus Corporate Finance LLP (“Opus”) has advised Tantalum Corporation, a Disruptive Capital portfolio company, on the sale of Tracker Network (UK) Ltd (“Tracker”) to CalAmp.
Tracker is a market leading telematics technology business with Internet of Things (IoT) capability, focused primarily on Stolen Vehicle Recovery, Fleet Tracking, and Insurance Telematics. Tracker has over 100k customers, over 1m installed tracking units across the UK and a wholly owned network with spare capacity for further IoT solutions.
Tracker has been sold to CalAmp, a Californian based technology solutions and telematics specialist, listed on the Nasdaq with a market capitalisation of c.$500m.
Post integration, Tracker will become part of a vertically integrated portfolio of telematics devices with cloud and software services aimed at connected car solutions for auto dealers, OEMs, insurance providers and other enterprise customers.
Malcolm Strang and Michael Mizon made up the Opus deal team, building further on Opus’ strong track record in the telematics sector.
Opus has advised the board of Wimbledon Park Golf Club in connection with the sale of the Club to the All England Lawn Tennis Club for total consideration of £65m equating to approximately £85,000 per member.
The transaction was motivated by the AELTC’s desire to gain certainty in their planning for an enhanced player, guest and community experience at The Championships including bringing on site the qualifying tournament. This was a complex, multiple stakeholder transaction in which Opus guided the Club through its obligations following the approach, consulted with the Club’s members on their preferences, and negotiated with the AELTC to enhance materially the initial proposal for members.
Members first approved a change to the Club’s constitution to permit all members to vote on the proposal and be treated equally, and subsequently voted to approve the AELTC’s offer in a court scheme meeting just prior to Christmas.
The transaction is an excellent example of Opus’s active private special situations franchise which has a broad range of current and historic experience, often working with multiple stakeholders to achieve value added resolution of complex situations. The Opus team was led by John McElroy and Nigel McNelly.
Opus is delighted to have advised Gemserv on its acquisition of ASE Consulting and Aprose Risk.
Gemserv principally provides consultancy services to the energy, utility and environmental markets and their participants, alongside offerings in information security.
ASE Consulting and Aprose Risk provide consultancy services in the digital transformation and cyber security spaces, and will expand on Gemserv’s existing information security operations.
The combined group will employ 180 staff and generate revenues in excess of £20m.
Opus is delighted to have advised Future Biogas Limited on the planned £8.5m capacity expansion of Vulcan Renewables by John Laing Environmental Assets Group Limited (JLEN).
Vulcan, acquired by JLEN in 2017, currently operates a 5MWth anaerobic digestion plant located near Doncaster and predominantly exports biomethane gas to the national grid, generating income from both gas sales and the Renewable Heat Incentive. The upgrade will be undertaken by Future Biogas as operator of the plant, and is expected to significantly increase biomethane generating capacity.
Stuart Schofield, John McElroy and Joseph Roberts made up the Opus deal team, which built on Opus’ strength in advising on feedstock-dependent renewable energy projects. These include JLEN’s £15.3m acquisition of Vulcan and its £11m investment in Icknield Farm, both anaerobic digestion plants, alongside advice to Estover Energy Limited on the financing of three biomass CHP projects for a total in excess of £350m.
Opus is delighted to have advised the shareholders of Independent Transition Management Limited (ITM) on the sale of the company to a highly experienced management buy-out team, as backed by Inflexion Private Equity.
ITM is the leading provider of specialist data services to the pensions industry and offers data audit, management and technology solutions to a large number of clients including pension funds, administrators, insurers and other financial services groups.
ITM was set up by the founders Guy Ridley, Grant Stanley, and Daniel Hockley 15 years ago and this transaction fully met their objectives in terms both of capital realised and providing a clean break from the business to pursue other interests.
Mark Speller, Craig Hassall, and Joanna Chen advised on the transaction, building further on Opus’ strong track record in the Financial Services sector and private equity backed transactions.
Opus is delighted to have advised the shareholders of CN Group on the sale of the business to Newsquest Media Group.
CN Group publishes two daily and five weekly newspapers, in addition to four monthly magazines in Cumbria and Northumberland. It also owns and runs a number of events in the North West of England and operates a printing press in Carlisle.
Nigel McNelly, Richard Morse and Joseph Roberts led on the transaction for Opus.
This transaction completes Opus’ recent involvement with CN Group, having also advised on the sale of the group’s radio stations, The Bay and Lakeland Radio, to Global Media and Entertainment.
Opus is delighted to have advised CN Group on the sale of its two radio stations, The Bay and Lakeland Radio, to Global Media and Entertainment.
The Bay and Lakeland Radio are leading radio stations in North West England, with The Bay being the most listened to station in its broadcast area.
Nigel McNelly, Richard Morse and Joseph Roberts led on the transaction for Opus.
Opus advised John Laing Environmental Assets Group (JLEN), the listed investment company, on an £11m investment in the Icknield Farm anaerobic digestion plant acquired from Ingenious and private owners. This is JLEN’s second investment in the technology and Opus has advised on both transactions. Icknield is a 5MWth AD plant producing bio-methane which is injected directly to the gas grid. It also generates electricity via a CHP unit and receives Renewable Heat Incentive and Feed in Tariff payments from the government.
The transaction is a further important milestone for the Opus sustainability practice and underscores our strong presence in this sector in which we are one of the leading UK financial advisory houses. Other sector transactions completed by Opus in the last twelve months include the acquisition of the Vulcan AD plant by JLEN, the restructuring of Green Biologics (renewable chemistry) and the investment by BGF and Volantis into Accsys Technologies (wood conversion technology).