Dealmakers Awards 2024: Deal of the Year (over £50m in value)

Deal of the Year (over £50m in value): The sale of Red John Pumped Storage Hydro Scheme from Intelligent Land Investments Group to Statkraft (PwC, TLT, Pinsent Masons and Aecom) Sponsored by Norman Broadbent

This complex transaction is set to enable a £1 billion power scheme to be created on the shores of Loch Ness.

The scheme, which has since been renamed by Statkraft to Loch na Cathrach, is expected to strengthen UK energy security and lead to the creation of hundreds of jobs in the Highlands.

“It has the potential to be huge,” said one judge.

Highly commended

Sale of a majority of Integrated Environmental Solutions to Apax Partners (Scottish Enterprise, KPMG, LEK, EY, Alantra, Travers Smith, CIL, Simon Kutcher, Crosslake). This deal provided early investors with an opportunity to exit, and partnered the management team with a global investor with expertise in rapidly scaling software companies. IES is now in a position to scale up rapidly with the support of Apax in developed and emerging markets.

Shortlisted

Investment in Kick ICT Group by LDC (PwC, Pinsent Masons, BDO, Armstrong, BGF, AAB, MBM Commercial, CMS). This investment provided an exit for previous Kick ICT backer BGF, and is set to enable Kick ICT to accelerate growth via further acquisitions; and to invest in the group’s technology and people.

Acquisition of ASCO Group by Endless (Piper Sandler, Ashurst, Deloitte, Walker Morris, KPMG, PwC, Lodestone, Jacksonbreen, Burness Paull). Following this deal, Endless plans to invest in logistics company ASCO through people, capital expenditure and meeting the changing needs of the international energy industry.

Debt facility for Ardersier port provided by Scottish National Investment Bank andUK Infrastructure Bank (Pinsent Masons, Brodies). This £100 million facility is set to enable the development of 350 acres at Ardersier Port to support offshore wind projects and supply chain manufacturing opportunities.