The Corporate Team at Verisona Law are proud to have completed the sale of Manor Renewable Energy Limited. Manor Renewable Energy specialises in temporary engineering solutions for the offshore industry.
The business attracted attention from Castle Mill Equity Partners, who purchased the business in September 2019 alongside a consortium of investors. Verisona Law was called in to represent the interests of shareholders Eric Briar, Toby Mead and John Tye. Eric and Toby remain active shareholders and head-up day-to-day operations.
‘We first acted for Manor Renewable Energy in 2017, when it acquired Manor Marine UK Limited,’ recalls Michael Dyer, Director and Head of Verisona Law’s Corporate & Commercial division. ‘The strategic transaction was to combine Manor Renewable Energy with boat-building facilities that could transport generators needed to initially power off shore windfarms.’ A deal that was essential to the growth of the business.
Now, operating from Portsmouth in Hampshire and Portland in Dorset, Manor Renewable Energy has secured investment from Castle Mill Equity Partners that will help the business scale up, ensuring that the business remains at the forefront of innovation.
Verisona Law negotiated the funding and transaction documents for the transaction and assisted with the due diligence and disclosure processes, all of which was completed over a four month period. Michael Dyer managed the transaction alongside Associate Solicitor Grant Usher, while Consultant Robert Harris handled all Commercial Property matters.
‘We are delighted with the outcome of the negotiations that have taken place over the last few months,’ says Managing Director Eric Briar. ‘Verisona Law worked hard, kept us fully informed every step of the way and we are very grateful for their diligence and attention.’
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“The (Corporate and Commercial) team did Verisona Law proud. I really appreciate all your assistance throughout the transaction.”
Director of a Groundworks and civil engineering business, June 2018
“I would just like to say a very big thank you to you for all of your amazing hard work and patience during the course of the sale. Myself and the family very much appreciate it.”
Exiting shareholder of an IT company, July 2018
“Thank you for all your work in dealing with the acquisition, your advice has been really helpful.”
Seller of a healthcare business, January 2019