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News Corporate Deals 4th Nov 2021

Freeths advises Brady on Acquisition of Trading Software Provider

The Freeths corporate team has advised Brady Trading Limited (“Brady”) on the acquisition of the entire issued share capital of Igloo Trading Solutions Limited (“Igloo”).

Brady is a leading provider of energy and commodities trading, risk, and logistics management software. Brady is a portfolio company of Hanover Investors.

Igloo is a next generation, cloud-native, SaaS trading and risk management platform for European energy markets with a diverse client base which includes leading trading organisations, hedge funds, producers and suppliers of power and gas.

The combination of Brady’s SaaS PowerDesk solution for short-term power trading and Igloo’s platform for trading and managing positions and risk across numerous asset classes, will provide users with a powerful single solution to profit from high levels of market volatility.

The acquisition will reinforce Brady’s position as a market leader in software solutions which enables energy traders to execute more profitable trading strategies through advanced data intelligence and connectivity to markets.

The Freeths team was led by corporate partner Francis Dalton, supported by senior associate Henrietta Rendell.

Francis Dalton, Freeths corporate partner commented: “We were delighted to assist Hanover and Brady with this strategically important bolt-on acquisition.  We worked with our colleagues across a number of different specialist areas to deliver on this complex transaction.”

Philippe Rivard of Hanover Investors commented: “It was great to work with the Freeths team on this important acquisition.  The team’s depth of expertise in the software sector allowed us to navigate smoothly through the transaction.”

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