South Staffordshire Plc (SSPlc), an integrated services group that operates two regulated water companies and a range of complementary non-regulated businesses, has acquired a majority 92.5% shareholding in Infrastructure Gateway Ltd (IGL) for an undisclosed sum, with an option to acquire the remaining 7.5% in 2026, with the support of law firm Shakespeare Martineau.

Infrastructure Gateway Ltd, the UK’s largest independent multi-utility infrastructure provider, currently serves residential housebuilders and commercial developers across the East of England.

The acquisition marks a key milestone in the growth of SSPlc’s clean energy business, which already includes electric vehicle charging infrastructure and turnkey ground source and district heating services, to further support its customers’ decarbonisation goals.

Legal advisors Shakespeare Martineau carried out legal due diligence on IGL and its group and also advised on all the transaction documentation.

Phil Newland, CEO of South Staffordshire Plc, commented: “This acquisition brings a highly complementary capability to our existing services, helping us to further strengthen our energy infrastructure and decarbonisation offerings. The expertise and passion of the IGL team has meant the business has already achieved a market leading position, and we’re excited to welcome the IGL team to our Group and to support the next chapter of their development as part of our overall growth strategy.

Andrew Smith, corporate finance partner at Shakespeare Martineau led the deal, he said: “This is the second deal we’ve supported SSPlc in the past 12 months and it’s great to see their growing service offering.

Net zero is high on the agenda for all businesses and as a result we’ve seen a number of investors and corporates looking to grow their market share in the energy infrastructure and decarbonisation space.

Shakespeare Martineau team included client lead Andrew Smith, corporate solicitor Gweni Rees-Evans, commercial IP partner Carys Thompson and solicitor Charlotte Cassells, employment partner Matt McDonald and associate Emma Oliver, property experts Simon Hayden and Meriel O’Loughlin and tax specialist and Ollie Gutman.

Dow Schofield Watts advised SSPlc on corporate finance. TLT (legal) and KBS Corporate Finance (corporate finance) acted for IGL. CSS Assure carried out cyber due diligence.

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Published: 6th February 2023
Area: Corporate & Commercial

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