Lux Nova support EPAL on the cross border Edina acquisition
Lux Nova is delighted to have advised EPAL (a joint venture between India’s Energy Efficiency Services Limited and EnergyPro Asset Management) on this strategically important cross-border acquisition of the power company Edina. We supported EPAL on all aspects of this transaction, including its joint venture arrangements, the acquisition documentation with the sellers, the legal due diligence into Edina, the related leveraged acquisition financing, and managing all legal input across the six jurisdictions touched by this transaction.
Edina supplies, installs and maintains CHP, gas and diesel power generation systems. It employs 200 people across its UK headquarters in Manchester and manufacturing base in Lisburn, Northern Ireland, and provides work for 400 contractors.
Neelima Jain, CEO, EPAL, who now takes over as Director, Commercial & BD in Edina, stated that:
“The acquisition is an important development in bringing together the efforts of two companies that have achieved distinguishing competencies in their respective energy efficiency markets. This partnership has far-reaching implications on the global energy sustainability scenario, and for promoting low-carbon growth by industries in Europe and Asia. With CHP technology’s contribution to the UK energy portfolio expected to double between 2015 and 2020, UK is a promising market for EESL to grow its own capabilities in the trigeneration sector.”