MAWW Case Study
ARC Group, AllMerus Energy and S&P Mergers and Acquisitions jointly advised on the Scottish onshore wind farm joint venture between Qair, a French independent producer of exclusively renewable energy and Eco Projects IOM, a Scottish wind developer. The joint venture was agreed between Qair as the sponsor and investor, and Eco Projects IOM as the developer to develop wind projects with an overall capacity of 1GW+.
By leveraging their membership in MAWW Isabella Zuo from Arc Group and Cristoph Katz from S&P Mergers and Acquisitions created a bond of trust when working on the joint venture for Qair and Eco Projects IOM.
Isabella Zuo from ARC Group, Dr. Magnus Sedlmayr from AllMerus Energy and Christoph Katz from S&P Mergers and Acquisitions worked seamlessly to close the deal.
One of the challenges faced was that the original mandate was initially meant to be an acquisition but was transformed into a joint venture.
Another problem to overcome was doing a deal during Covid times which was also particularly challenging as meetings had to be mostly online or sometimes in-person meetings had to be rescheduled to take into consideration travel restrictions and quarantines imposed. The deal was sealed with only 2 in-person meetings with the rest of the process done remotely.
Christoph Katz added that “working with Isabella was very easy as we had an instant connection in terms of working practices and perspectives, and this created a bond of trust which meant that we worked very well together. We had a work ethic that was based on flexibility and cooperation and also importantly the speed and consistency in following up on questions during the process. Our good working relationship meant that we could clarify any misunderstandings and hand hold where necessary to make sure the deal went through. M&A Worldwide provides the tools for trust and cooperation between members and facilitates good working relationships with clients.”
Isabella also commented that “It was a long and challenging, yet most productive process, especially during Covid. We feel very proud to finally witness the joint venture agreement being signed between Qair and Eco Projects IOM. It is another high-quality green energy deal that will contribute to realizing the 50% energy use coming from renewable energy set by the Scottish government for 2025.”
ARC Group and S&P Mergers and Acquisitions prepared and issued a worldwide press release on the deal. This press release was viewed approx. 13 200 times after 48 hours according to PR Newswire media tracking. Both ARC Group and S&P Mergers and Acquisitions are active in the market for renewable energy project M&A transactions and continue to pursue mandates, also based on this deal, at least one mandate has been granted to each based directly on this deal.
ARC Group is a full-service financial company specialized in Capital and Private Markets and has become a benchmark in cross border M&A transactions. With its multicultural DNA, they bridge the best of Western and Asian worlds. They provide Sell Side, Buy Side, Buy Out, Capital Raise, Restructuring, Valuation, Due Diligence, LBO, MBO services among others. ARC Group has been recognized as the best mid-market boutique investment bank in 2020 by the recognized magazine International Investors.
S&P Mergers and Acquisitions, based in Germany, supports its clients – families and their enterprises, corporations, private equity and personal investors – for more than 30 years with consulting and intermediary services concerning acquisitions and sales of companies, mergers and strategic alliances, corporate divestments as well as management buy-ins and buy-outs. S&P is a proud founding member of M&A Worldwide.