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James Larmour

James Larmour


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‘James Larmour operates in a collaborative, constructive and friendly manner. I have rarely met another lawyer who is easier to get on with and more focused on client delivery.’
(The Legal 500, 2024)

James has over twenty years’ experience of advising on a number of complex and innovative infrastructure and project finance transactions. These include a number of PFIs, PPPs, joint ventures, outsourcing and M&A deals, both within the UK and overseas.

James has advised local government, private equity funds, sponsors, senior lenders, construction contractors and service providers on transactions across a diverse range of sectors. These include accommodation, custodial, education, energy, healthcare, roads, rail, waste and waste water.

James is recognised for his work in advising investors throughout the project lifecycle, with particular expertise in secondary market transactions, refinancing, equity restructuring, variations and the expiry process.

Within the energy sector, James advises on greenfield and brownfield project development with particular expertise in offshore transmission, energy from waste schemes, smart meters and EVs.

James is recognised as a Leading Individual in Chambers & Partners (2024 edition) for Infrastructure:  PFI/PPP

The Legal 500 (2024 edition) lists James as a Recommended Lawyer and Leading Individual for ‘Projects, Energy and Natural Resources – Project Finance and PFI’.

Legal Services

Banking & Finance

James has extensive experience of advising key project participants in relation to a number of primary and secondary market PFI/PPP and project finance transactions, both within the UK and overseas. James also has notable experience in healthcare having advised on a number of significant transactions encompassing infrastructure development, PFI/PPP, medical equipment, social care, joint ventures and M&A transactions.

Recent Work

  • Leading the team advising Equitix on the £170 million+ refinancing of the Hampshire PFI street lighting project.
  • Advising Building Schools for the Future Investments LLP on the consolidation of its BSF portfolio through a series of secondary market acquisitions and equity restructurings.
  • Advising Dalmore Capital on the acquisition and restructuring of equity and subordinated debt in a number of BSF projects.
  • Advising on the restructuring of a number of Local Education Partnerships prior to their being put into ‘hibernation’.
  • Advising Amber Infrastructure in relation to INPP’s investment in the £4.2 billion Thames Tideway mega project; perhaps the largest and most complex PPP project to close in 2015.
  • Advising Tarmac as O&M Contractor in relation to the £600 million Mersey Gateway Project. The project featured the first wrapped bonds under the UK Infrastructure Guarantee programme and an innovative financing structure including long term commercial banking financing, a construction working capital facility and long term mezzanine finance.



Clean Energy, Waste & Sustainability

James advises on greenfield and brownfield project development within the energy sector. He has particular experience of offshore transmission, energy from waste schemes and energy efficiency projects and smart meters.


  • Advising TC Ormonde OFTO Limited on the restructuring of its senior debt facilities to allow for the receipt of Network Innovation Competition funding from Ofgem.
  • Advising a leading meter asset provider on a project for financing the procurement of smart meters for a ‘big six’ energy company.
  • Advising a leading infrastructure investor on the structuring of an innovative multi-site energy efficiency project for the installation of LED lighting.
  • Advising RBS on secondment in relation to the Cory/Wheelabrator Norfolk B Waste PFI project for the development of a 286,000 tonnes per annum energy from waste facility.
  • Advising the King’s Cross Development Partnership in relation to the development and financing of a CHP (Combined Heat & Power) facility to provide heating and hot water to the King’s Cross Central development.
  • Advising Cornwall Council on the refinancing of its ‘path finder’ integrated waste management PFI scheme.


James has many years experience of advising on significant transactions within the healthcare sector both within the UK and overseas. His experience includes complex procurements and outsourcings (such as PFI/PPP, LIFT, IS-TC, decontamination services) joint ventures and M&A transactions.


  • Advising Care UK on a £110 million+ contract for the outsourcing of clinical services by Somerset CCG, via an innovative joint venture with Somerset Partnership NHS Foundation Trust.
  • Advising a shortlisted bidder on its tender for the operation of George Eliot Hospital NHS Trust under an NHS ‘franchise’ arrangement.
  • Advising investors in NHS PPP schemes on the implications of the Health and Social Care Act 2012 and NHS Trust administration.
  • Advising on the terms of a 25 year contract for the provision of residential care services to Suffolk County Council.
  • Advising sponsors and senior lenders in relation to a number of PFI/PPP schemes within the healthcare sector.
  • Advising on a multi-billion US$ healthcare joint venture and outsourcing in Saudi Arabia.

Infrastructure & Major Projects

  • Advising Amber Infrastructure on the refinancing of the Blackburn 1, Blackburn 2, Durham, Ealing, Luton, South Tyneside and Gateshead 2 and Wolverhampton BSF projects and the Liverpool Library PFI project
  • Advising Equitix on the refinancing of the Hampshire, Knowsley, Nottingham, Southampton and West Sussex street lighting PFI projects
  • Amber Infrastructure on the consolidation of its BSF portfolio. Transactions include:
    • the acquisition of Skanska and Essex County Council’s interests in Essex Woodlands BSF
    • the acquisition of Essex County Council’s interest in Essex 1 BSF
    • the acquisition of majority interests in Halton BSF
    • the acquisition of Babcock’s interests in all four phases of Lewisham BSF
    • the acquisition of a number of investments from Carillion
    • the restructuring of a number of LEPs
  • Advising Dalmore Capital on a number of secondary market transactions, including:
    • the acquisition of InfraRed’s interests in the SE London Police PFI project
    • the acquisition of Sewell’s interests in Hull BSF
    • the acquisition of Balfour Beatty’s interests in Newcastle BSF
    • the acquisition of Sir Robert McAlpine’s interests in Newcastle BSF
  • Advising EQUANS in relation to its replacement of Carillion as FM Contractor in relation to the Rochdale 1 and 2 BSF projects
  • Advising funds managed by Amber Infrastructure on the acquisition of an additional shareholding in Angel Trains from AMP Capital.
  • Advising Amber Infrastructure on the joint venture arrangements with Access Capital Partners in respect of the acquisition of a majority stake in Service Terminal Rotterdam.
  • Advising a leading infrastructure investor on a project to deliver kerbside EV chargepoint infrastructure for a London Borough, including specific advice on project structuring and procurement law.
  • Advising an investor on a framework agreement with a ‘big six’ energy company for the roll out of EV charging infrastructure in private car parks.
  • Advising a contractor on funding arrangements to support its obligations under a framework agreement with a number of local authorities to deliver the rollout of EV chargepoint infrastructure across publicly owned sites.
  • Advising TC Ormonde OFTO Limited on the restructuring of its senior debt facilities to allow for the receipt of Network Innovation Competition funding from Ofgem.



Related News & Articles [ 26 ]

To contact James or for more information…

Call: 0345 017 1122
Mobile: 0779 501 0867
Or email: Send an email



“[James] …is legally aware and commercially astute enough to know when things really matter. He is not one for wasting client’s time and money on points that are not commercially relevant, but he will ensure that you are aware of matters which he believes are relevant.”

(Paul Andrews, Amber Infrastructure)

‘James Larmour is exceptional and fully deserves his recognition as a leading individual in PFI/PPP matters. His clients can have absolute confidence that he will get the job done for them and will have a proactive and sensible solution where any transactional challenges arise.’

(The Legal 500, 2024)

“He’s always contactable, easy to deal with and very practical with the advice he gives.”

(Chambers & Partners, 2024)

“Freeths have been an exceptional team lead by James Larmour. He is always at the forefront of market developments, PFI handback being a particular example.’

(The Legal 500, 2023)

‘James Larmour is our main contact. While we haven’t yet worked on a full transaction together, from the work he has done for us we have been pleased with the level of service provided. He can be depended on to provide clear commercially minded advice.’

(The Legal 500, 2023)

‘James Larmour is a fantastic project finance and PFI practitioner, with a skill set that is easily as strong as the best magic circle firm partners I have dealt with in the sector over the years.’

(The Legal 500, 2023)

“James Larmour is one of the best projects lawyers I have dealt with in the secondary space.”

(Chambers & Partners, 2023)

“He is very commercial, easy to deal with and pragmatic. You always feel like you are getting good advice from a seasonable commercial lawyer.”

(Chambers & Partners, 2023)

“He is an incredibly knowledgeable and easy person to work with.”

(Chambers & Partners, 2023)

‘James Larmour always provides excellent balanced and commercial advice. Well known and regarded in the infrastructure market. A go to lawyer.’

(The Legal 500, 2023)

Client service

‘Doing the right thing’ is at the heart of Freeths. Find out more about our excellent client service and the strong set of values that guide the way we work.

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