Slaughter and May is advising Aggreko plc on its recommended cash acquisition by a consortium comprising I Squared Capital and TDR Capital

Slaughter and May is advising Aggreko plc on the recommended cash acquisition of its entire issued and to be issued ordinary share capital by Albion Acquisitions Limited, a newly formed company owned by funds managed by I Squared Capital Advisors (US) LLC and investment funds managed by TDR Capital LLP. The proposed acquisition was announced on 5 March 2021, following a previous announcement of a possible offer by the consortium on 5 February 2021.

Under the terms of the acquisition, each Aggreko shareholder will be entitled to receive 880 pence in cash for each Aggreko ordinary share held by them. This offer price will be reduced by the final dividend of 10 pence per Aggreko ordinary share (as announced by Aggreko on 1 March 2021 and subject to approval at Aggreko’s 2021 annual general meeting) to the extent that the dividend record date occurs before the effective date of the acquisition. The acquisition values the entire issued and to be issued ordinary share capital of Aggreko at approximately £2,322 million and is expected to complete in the summer of 2021, subject to receipt of customary shareholder, antitrust and foreign investment approvals.

Aggreko is a world-leading provider of mobile modular power, temperature control and energy services. Working at the forefront of a rapidly changing energy market, Aggreko solves customers’ energy problems by providing sector-specific, cost-effective and flexible solutions. Aggreko has 55 years of operational experience, around 6,000 permanent employees and 190 sales and service centres across the globe to support its customers across 79 countries.

Slaughter and May is supporting Aggreko’s in-house legal team led by Simon Thomson (Group Legal Director and Company Secretary) and Helen Middlemist (Deputy Company Secretary).

Corporate
Steve Cooke Partner
Christian Boney Partner
Di Yu Associate
Richard Bishop Associate

Ben Crosby / Trainee, Giordano Magnante / Trainee, Cameron Anderson / Trainee

Employment
Phil Linnard Partner
Philippa O'Malley Associate
Chris Marlor Associate
Pensions
Charles Cameron Partner
Chris Sharpe Associate
Competition
Murray Reeve Associate
Sophia Clark Associate
Financing