England - London • Projects, energy and natural resources

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Infrastructure: M&A and acquisition financing

Linklaters LLP

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A firm fielding ‘very strong partners across the board’, Linklaters LLP’ infrastructure practice is well positioned to act on a significant volume of high-profile deals, possessing wide-ranging expertise pertaining to all asset classes, with notable specialisms in renewables and emerging infrastructure. The group demonstrate an even spread of big ticket mandates both domestically and internationally.  Michael Honan leads the practice and is highlighted for his experience in wind assets and strong track record in energy-to-waste and water matters, whereas co-head David Martin is at the forefront of the group’s digital infrastructure offering, particularly in relation to towers, fibre and data centres. Ross Schloeffel focuses on advising funds and strategics on the financing and disposal of a variety of assets, while the arrival of John Guccione, previously of Latham & Watkins, bolsters the M&A capabilities of the group and helps bridge the gap left by the departures of M&A partner Jessamy Gallagher  and finance specialist Stuart Rowson to Paul Hastings LLP

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘The service is tailor-made. We have had access to multiple specialists with wide ranging expertise.'

  • ‘Richard Ginks was very present in the project, great expertise in the market showing broad knowledge in infra, projects, finance.' 

  • 'The Infra M&A team at Linklaters is very strong and consistently delivers excellent client service to us on our renewable projects. There is a good depth of knowledge across all levels of associates and strong partner involvement throughout a deal. Good ability to take both a sponsor and lender perspective.‘

  • 'Very experienced in infrastructure transactions and in particular working for financial sponsors.’

  • ‘Michael Honan has been an excellent relationship partner and assisted us with a number of transactions. He is extremely approachable, available and easy to work with. He has worked hard to get to know our institution and what is important to us.'

  • ' Chris Boycott is extremely knowledgeable and able to distill that knowledge in a way that is easy for his clients to comprehend.’

  • ‘Great team - huge experience across sectors. We always know we get a great service when using Linklaters. By having both breadth across multiple sectors, and also depth within a particular market, the team has the unique ability to act on large infrastructure transactions to provide a great full service.'

  • ‘Very strong partners across the board. Julian Davies must be the most knowledgeable structure finance lawyer in the city. 

Key clients

  • Ardian
  • Australian Super
  • Axium
  • BlackRock
  • British Government
  • Brookfield
  • Canada Pension Plan Investment Board (CPPIB)
  • Caisse de dépôt et placement du Québec (CDPQ)
  • CK Infrastructure
  • Cory Riverside Energy
  • DigitalBridge
  • Equitix
  • Eurostar
  • First Sentier Investors
  • Global Infrastructure Fund
  • Global Renewables Fund
  • Globalvía
  • Green Investment Group
  • IFM Investors
  • InfraVia Capital Partners
  • I Squared Capital
  • JP Morgan
  • Macquarie Group
  • Morgan Stanley Infrastructure
  • National Grid
  • Oaktree
  • Olympia Odos Concession Company
  • Ontario Municipal Employees Retirement System (OMERS)
  • Ontario Teachers’ Pension Plan Board (OTPP)
  • Ørsted Wind Power
  • Partners Group
  • PSP
  • SIRO
  • USS
  • Vodafone

Work highlights

  • Advised Ørsted on the £3bn divestment of a 50% stake in its 1.3 GW Hornsea 2 Offshore Wind Farm to a consortium comprising AXA IM Alts and Crédit Agricole Assurances.
  • Advised OTPP on its acquisition of a 25% minority stake in electricity transmission network business, SSEN Transmission from SSE plc for cash consideration of £1.465bn and on related arrangements.
  • Advised National Grid in respect of its £4.2bn sale of a 60% stake in its gas transmission and metering business to a consortium of long-term infrastructure investors.

Lawyers

Leading individuals: Corporate and M&A

Michael Honan

Linklaters LLP

Michael is a corporate partner who focuses on public and private M&A, joint ventures, reorganisations and corporate governance. Michael is a central member of Linklaters’ infrastructure M&A team and is also a key adviser to a number of Linklaters’ most important multinational corporate clients, in particular in the consumer sector. He has advised on a number of high profile M&A deals in the market, for example the multi-billion pound disposal of High Speed 1 by OMERS Infrastructure and Ontario Teachers’ Pension Plan and the disposal by Nestlé of its global ice cream business.

Practice head

The lawyer(s) leading their teams.

Michael Honan, David Martin

Other key lawyers

Ross Schloeffel, John Guccione, Richard Ginks, Chris Boycott (M&, A)

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