Multi million pound funding for Eclipse Power
We recently acted for Eclipse Power Limited and its shareholders in relation to a multi-million pound funding deal with Octopus Investments.
Eclipse Power is a licensed Independent Distribution Network Operator (IDNO) regulated by Ofgem that owns and operates both network and generation infrastructure within the UK’s energy industry. Eclipse Power helps support the National Grid’s power demand by developing, operating and maintaining electricity distribution networks across the UK.
Octopus Investments, for the first time in the network operator sector, has provided a multi-million pound investment in Eclipse Power to support the company’s aims of becoming one of the UK’s leading IDNOs. Eclipse Power is projected to connect more than 25,000 customers over the coming years with Octopus’ Investment intended to be utilised to secure additional networks.
Gary Gay, Managing Director and Founder of Eclipse Power, commented: “I found the EMW team a pleasure to work with. The timescale was extremely tight but the EMW team kept the pace up and ensured we came to a successful conclusion. We are excited to be working with Octopus and the EMW team going forward.”
Ian Mabbutt, Head of our Corporate Finance team, also commented: “We are pleased to have had the opportunity to assist Eclipse Power in this transaction. It involved a number of different aspects from both banking and corporate perspectives and we congratulate all involved. It was a pleasure to work alongside Gary and we are looking forward to working with Eclipse Power again in the near future.”
Our team was led by Nick Lloyd, who was assisted by Ian Mabbutt and Sean Halliwell (Banking team), Daisy Divoka and Hollie Tompkins (Corporate team), and Amanda de Bruyn, Emma Bulleyment and Rosie Oakes (Company Secretarial team).
For more information on this deal, please contact Nick Lloyd, or gives us a call on 0345 070 6000.