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News Corporate Deals 8th Jul 2020

Freeths team advises on sale of Icosa Water

Freeths Corporate team has advised on the disposal of a controlling stake in Icosa Water Ltd to Infracapital’s Last Mile Infrastructure Group, one of the UK’s largest Independent Network Owners.

Icosa Water Ltd is one of the UK’s leading independent water and wastewater connections providers. The transaction completed with Infracapital obtaining a controlling interest in Icosa and the management team retaining the balance. Icosa will run independently, alongside Infracap’s existing electricity, gas and water connections businesses.

Freeths advised the sellers on the deal and saw the deal to a successful completion, despite the lockdown measures that were in place across the UK due to the Coronavirus pandemic.

Freeths said “It was a pleasure to advise the sellers, including management, on this deal and see investment that will allow Icosa to drive its long term growth ambitions. Given the unprecedented circumstances the transaction is one that will stick with us for a long time. It was a fantastic achievement for all involved and just goes to show how well we work together at Freeths to get things done (even in the midst of a pandemic)”.

Raoul De Lange of Icosa said “Freeths provided a balance of legal and commercial advise to the sellers on the disposal of Icosa Water and managements ongoing stake in the business. She clearly has considerable corporate experience and remained calm and professional at all times, driving the deal to completion notwithstanding the exceptional circumstances of the COVID-19 lockdown. We would highly recommend the Freeths team.

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