Ashurst advises Pioneer Point on acquisition of Esken Renewables
01 December 2023
01 December 2023
Global law firm Ashurst has advised Pioneer Point Partners LLP ('Pioneer') on their acquisition of Esken Renewables Limited ('Esken Renewables'), the renewables arm of Esken Limited.
Esken Renewables is one of the largest suppliers of waste wood fuel in the UK with contracts to supply c.1.7 million tonnes of fuel to dedicated biomass plants across the UK. Pioneer, a sustainable infrastructure investment firm, is acquiring Esken Renewables with the aim to continue to scale the business. Esken Renewables develops solutions across the whole waste and recycling supply chain, which is strongly aligned to Pioneer's objectives of contributing to the green transition and the circular economy.
The acquisition will be funded by equity from Pioneer and a third party acquisition facility.
The Ashurst team was led by energy and infrastructure partners Jason Radford and Nick Stalbow, assisted by senior associate Hayley Gow and associate Rebekah Oakes. Infrastructure finance partner Laura Ho, senior associate Sebastian Brignell and associate Arjun Kiri advised on the acquisition financing. Tax advice was provided by counsel Mark Spinney and associate Luis De Freitas.
Partner Jamie Chapman advised on real estate matters, supported by consultants Alexander Brown and Marc Ferster. Planning, access and environment support was led by partner Eleanor Reeves, assisted by counsel Becky Clissmann and senior associate Joanna Fox. Employment, pensions and incentives advice was provided by partner Ruth Buchanan, counsel John Gordon, senior associates Rebecca Servian and Claire Bradbury and associate India Coultas. Partners Sunny Kumar and Chris Bates and associates Julia Bell and Saif Khan advised on IP and commercial contract matters.
Commenting on the transaction, Jason Radford said: "We are delighted that we have been able to assist Pioneer Point on such an important investment. It is a testament to the sector strength we have in energy transition and to our position as a leading energy and infra M&A and finance team."