Squire Patton Boggs Advises Averroes Capital on Buyout of Energy Innovator

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Squire Patton Boggs has advised UK mid-market private equity investor Averroes Capital on the buyout of Glacier Energy, an international provider of products, services and engineered solutions for renewable and conventional energy markets.

The team advising Averroes Capital was led by Birmingham Corporate partner Tom Durrant, and included associates Simon Watts-Morgan and Jessica Hopkinson, with banking advice provided by partner Roy Grist and associate Charlotte Farnsworth. Head of funds Steven Ward and associate Anjuli Chatterjee advised Averroes on the fundraising aspects of the deal.

Averroes Capital invests £15 million to £40 million of equity into UK and Ireland headquartered businesses operating across a range of sectors, including business services, industrials, IT and software, healthcare, education and consumer niches.

Glacier Energy has a track record of servicing its clients across various sectors including onshore and offshore wind, oil and gas, nuclear and chemicals. The business has also been leveraging its engineering and technical capabilities to support low carbon technologies including hydrogen, carbon capture, and energy storage.

The business is embarking on further growth, designed to take advantage of positive market drivers in the energy landscape, in particular the energy transition, energy security initiatives and decommissioning. These trends are driving investments into both low carbon technologies and existing energy sources.

Tom Durrant said: “We’re pleased to support Averroes Capital on its investment in Glacier Energy, an innovative specialist that is using its expertise to support the transition towards clean energy. The investment will enable the business to continue its momentum and help drive the next phase of its growth.”

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