Freeths advises on investment in energy tech specialist Wattstor
National law firm Freeths has advised certain shareholders of Wattstor Limited, on Wattstor’s investment from Ara Partners, a private equity firm that specialises in industrial decarbonisation investments.
Founded in the UK in 2013, Wattstor is the fast-growing provider of automated carbon reduction and electricity cost-saving technology for small and medium-sized enterprises and mid-market industrial and commercial end users.
Wattstor’s main existing institutional investor prior to the investment from Ara, janom, will a retain a minority interest, reflecting its confidence in the business, the management team and the vision for Wattstor’s future with Ara’s support.
This acquisition will see the company increase its European foothold, launch its Energy-as-a-Service (EaaS) finance offering, boost R&D, and expand the team by more than 50% over the next year.
Freeths legal team was led by Corporate Partner Andy Francey and Clean Energy Partner Clare King with support from Dahren Naidoo, Megan Atack, Bradley Adams and Lucy Barrett (Corporate), Laura Tracey and Niamh Hogg (Employment) and Alex Angelides (Tax).
Commenting on the deal, Andy Francey, Corporate Partner at Freeths, said: “We’re pleased to advise Wattstor on this investment which demonstrates Freeths’ extensive capabilities within the clean energy sector and showcases its commitment to UK sustainability.”
Stephan Marty, CEO at Wattstor added: “We are proud to be backed by an investor that is completely focused on its portfolio of sustainable enterprises, and we very much look forward to accelerating our growth plans over the coming months.”
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