Law firm advises on sale of energy storage firm
Law firm Freeths advised the shareholders, including growth capital investor BGF, of Fig Power on its sale to FTSE 250 investment company The Renewables Infrastructure Group.
Founded as a standalone company in 2022 following a spin out from award-winning engineering design, energy and sustainability consultancy Hydrock, the Bristol business is a developer of distributed energy storage and generation assets.
TRIG has a portfolio of wind, solar and battery storage projects across Europe and is advised by its investment manager InfraRed Capital Partners Ltd.
This sale will enable Fig Power to accelerate development activity further selectively as it continues on its mission to develop assets that will help the UK deliver clean, reliable energy generation and storage.
The Freeths team was led by M&A and private equity director Mohammed Abbas with support from Emily Arnett, leveraged finance support from James Dyson and Charlotte Beddows, employment support from Sarah Bogues and tax support from Alex Angelides.
Mohammed Abbas said: “Freeths have supported Fig Power since its inception, and we were delighted to play a role in the next step of its journey as a business. This new partnership with TRIG positions Fig Power perfectly for its ambitious growth plans.
“These are exciting times ahead for Henry and the other members of the management team and we look forward to watching and supporting on its future success.”
This is the latest in a series of transactions for Freeths in the clean energy sector and follows the recent announcement of the firm’s B Corp accreditation.
