MacRoberts and French Duncan support £14m acquisition deal for Together Energy

MacRoberts and French Duncan support £14m acquisition deal for Together Energy

French Duncan


MacRoberts’ and French Duncan’s corporate finance teams have supported one of the UK’s most ethically aware energy firms, Together Energy, in their acquisition of Bristol Energy’s residential customer base, ensuring a continued service for customers and securing the jobs of 110 frontline workers.

The sale to Together Energy for £14m will see the company acquiring 155,000 residential meter points plus the Bristol Energy brand and systems.

Together Energy prides itself on its social impact with more than 90% of its staff coming from the poorest 10% of postcodes. During negotiations, Together Energy committed to guaranteeing the jobs of 110 frontline workers who will now TUPE into the company and remain in Bristol.

Together Energy Chief Executive Paul Richards said:

“The industry and intelligence shown by Michael Kelly, Iain Walker and their teams at MacRoberts and French Duncan has been incredible.  It was a complex transaction and I have been enormously reassured by their handling throughout.  They are superb advisors, a pleasure to work with and they have undertaken a herculean effort to deliver this transaction.”

MacRoberts Corporate Finance Partner Michael Kelly said:

“This was a brilliant transaction to be part of and we are delighted for Together Energy.  It is another big step forward in their growth plans, and it rescues a vast number of jobs. At a time of such obvious challenges, we are proud to be part of a deal which delivers real commercial value to our client, but also serves the public good in such a profound way”.

French Duncan Corporate Finance Partner Iain Walker said:

“We are delighted to have supported Together Energy with this milestone transaction, which significantly increases their scale, helps to facilitate their growth plan and also secures jobs. It again demonstrates the ambitions of Paul and the Together Energy team, and we look forward to seeing the company continue to grow and thrive.”

 

CONTACT:

MACROBERTS LLP

For further information, please contact: Laura Wilson, Director of Marketing & Business Development, MacRoberts LLP. Capella, 60 York Street, Glasgow G2 8JX

T: 0141 303 1296 / E: laura.wilson@macroberts.com

 

FRENCH DUNCAN

For further information, please contact French Duncan’s communications team at Grayling:

T: 0131 226 2363 / E: frenchduncan@grayling.com

 

ABOUT MACROBERTS LLP

MacRoberts LLP is one of Scotland’s leading independent commercial law firms with over 150 years of experience in the legal sector. The firm maintains strong links within the Scottish economy, working with large private and public companies, small and medium-sized enterprises, entrepreneurs and owner-managed businesses, banks and financial services institutions, public sector bodies, charities and all levels of government. MacRoberts’ Corporate team was highly commended for M&A Team of the Year at the British Legal Awards 2019.  www.macroberts.com

 

ABOUT FRENCH DUNCAN

French Duncan is a long established, award winning, top 10 Scottish independent firm of chartered accountants and business advisors, headquartered in Scotland and working with clients throughout the UK as well as internationally. The firm have five offices with 14 partners and well over 200 staff offering a wide range of services giving an experienced and independent view to help our clients achieve their goals. French Duncan is a member of HLB International, a network of independent global advisory and accounting firms.  www.frenchduncan.co.uk  

 

ABOUT TOGETHER ENERGY

Headquartered in Clydebank, Scotland, Together Energy offers very competitive low priced, 100% renewable, dual energy tariffs for up to a three-year fixed term.  In just four years the company has grown to record a £145m turnover, employing 160 people, with more than 185,000 customer accounts.  www.togetherenergy.co.uk

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