Andrew Jackson advises Flush Energy on multi-million pound acquisition as it eyes biomass market growth

Flush Energy has aquired assets of 3F Pellets Limited

FLUSH Energy has secured a multi-million pound funding package comprising private equity investment as well as debt finance to assist with its ambitious growth plans, following its acquisition of the business and assets of 3F Pellets Limited (in Administration), a manufacturer and supplier of wood-based pellet products including biomass heating pellets (“acquisition”).

Flush Energy is now focussed on returning the Lincolnshire-based plant to production and targeting further acquisition opportunities.

Led by corporate partner, Philip Ashworth, a multi-disciplinary team at Andrew Jackson Solicitors LLP comprising Nicole Waldron (corporate), Samuel Peake (property), Nick Wilson (employment) and Fiona Phillips (tax), advised Flush Energy on the acquisition from joint administrators, Andy Pear and Milan Vuceljic of Moorfields Advisory.

Andrew Jackson also advised Flush Energy on the private equity investment and debt finance package.

The insolvency and reorganisation team at international law firm Clyde & Co LLP, led by partner Andrew Foster and assisted by Tristan Cox-Chung (legal director), Andrew Robertson (senior associate) and Lily Pidge (associate), were instructed by the joint administrators on the acquisition.

Clyde & Co’s corporate team, led by partners Simon Gamblin and Rob Lowe, provided legal advice to the debt funders.

Grant Lodge, CEO of Flush Energy, said: “We are delighted to have concluded the acquisition of the Lincoln pellet plant and are making swift progress with getting it back into production and yielding RHI income. We look forward to continuing to work with Philip Ashworth and his excellent team at Andrew Jackson Solicitors, who we expect to be a key part of our team, helping us with our growth plans in the coming years.”

Philip Ashworth said: - “We are absolutely delighted to have assisted the team at Flush Energy on its first acquisition. It has been a complex transaction involving various regulatory issues, raising private equity and debt funding. Flush Energy is now well placed to grow the business, which offers a solid customer base from a fantastic location.

“It has been a pleasure to act for Grant and his team and we are confident that they will  make significant in-roads into the biomass sector over the coming months.”