Linklaters LLP provides advice to a wide range of water sector stakeholders, acting for water companies on regulatory and competition challenges and investors on financing arrangements. Julian Davies and Natura Gracia head the team in tandem, with Davies specialising in M&A and financing in the sector, while Gracia takes the lead on regulation and competition. Mark Nuttall heads the firm's structured finance team, assisting water companies with both debt and equity raises, working alongside Elisabeth Johnson, who is well versed in setting up infrastructure financing. Emma Crawford provides further financing capacity and is also able to assist with regulatory issues and investigations.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • 'Having worked with many law firms over the years, the Linklaters team particularly stands out for their diligence but also their ability to view things through a commercial lens and articulate their position clearly.'
  • 'Mark Nuttall and Elisabeth Johnson particularly stand out.'
  • 'Hugely engaged with the sector and stakeholders, they just get it. Great depth of knowledge and purpose-based approach.'
  • 'The core team has remained stable. We often throw a lot of different things at them at once and they always turn them around efficiently. They draw on other specialist teams where needed.'
  • 'In depth understanding of both the company and the sector. They are very committed and feel like part of the company.'
  • 'Cross-sectoral knowledge on latest regulatory developments is exceptional, they appear to be closely involved in the most high-profile issues in the water sector and this is highly valuable for energy clients.'
  • 'Really appreciate their team dynamic - high levels of mutual respect across the team, very engaging and collaborative with clients, making it feel as though it's one team operating.'

Key clients

  • Thames Water Utilities Limited
  • Anglian Water Group Limited
  • Southern Water Services Limited
  • Yorkshire Water Services Limited
  • Sutton & East Surrey Water plc
  • Assured Guaranty
  • Dŵr Cymru Welsh Water

Work highlights

  • Advised Thames Water on the receipt of £500m of shareholder funding on 29th March 2023, as previously committed by shareholders in June 2022.
  • Advised SESW on its takeover by Pennon Group, which followed from advising SESW on a £22m equity commitment from its then shareholders (Sumitomo Corporation and Osaka Gas) in July 2023.
  • Advised Anglian Water in connection with the submission of their business plans as part of the PR24 process.

Lawyers

Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Julian Davies
Linklaters LLP
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Emma Crawford
Linklaters LLP
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Mark Nuttall
Linklaters LLP
Natura Gracia
Linklaters LLP

Practice head

The lawyer(s) leading their teams.

Julian Davies, Natura Gracia

Other key lawyers

Mark Nuttall, Elisabeth Johnson, Emma Crawford, Benjamin Dewsnip