Wragge & Co corporate partner Ian Metcalfe played a support role to Powergen’s in-house legal team, led by head of legal Ian Fairclough, on its £52.5m buy-out of a 50% joint venture partner, Siemens Project Ventures, to take full ownership of the gas-fired power station, Cottam Development Centre. He was supported by tax partner Kevin Lowe and corporate associate Ben Gillespie. The Nottinghamshire power station produces power for around 250,000 houses. The target did not instruct external advisers.
Travers Smith Braithwaite corporate partner Philip Sanderson advised Phoenix Equity Partners on its £45m secondary buy-out of initial investor 3i from Newcastle-based packaging company Jaycare. Phoenix is replacing 3i four years after it backed the management in the buy-out. Eversheds Newcastle head of corporate David Bowcock advised 3i and a number of individual investors, assisted by corporate assistant Katie Marshall. The management, which rolled over its investment, was advised by Ward Haddaway corporate partner Martin Hulls and corporate assistant Katherine Hay-Heddle. Deal funder Bank of Scotland was advised by Dickinson Dees head of banking Deborah Kirtley.
