19 July 2013
Clifford Chance advises Cinven portfolio company, EnServe on the sale of Inenco
International law firm Clifford Chance is advising Cinven and its portfolio company, Enserve on the sale of Inenco, the energy division of EnServe, to Vitruvian Partners, its management team and Intermediate Capital Group Plc. EnServe, the energy and utility outsourcing business, was acquired by Cinven in a public to private transaction in 2010 when it was known as Spice PLC.
Inenco is the UK market leader in strategic energy management procurement and risk management services with over 9,000 clients including corporate, public sector and SME customers. Its services are provided through three specialised brands Inenco, Inenco Direct and NIFES.
Cinven relationship partner Jonny Myers commented: "This was an important transaction for Cinven and EnServe and we are delighted to have assisted."
Clifford Chance also recently advised Cinven on its $1.99bn acquisition of CeramTec, one of the leading manufacturers of high performance ceramics used in the medical, automotive, industrial and electronics sectors from the Rockwood Holdings. In the past year, the Clifford Chance team led by Jonny Myers also advised Cinven on its acquisition of Mercury Pharma and Amdipharm, for which the team won "Corporate Finance Team of the Year" at the Lawyer Awards 2013.
The Clifford Chance team was led by Corporate Partner Jonny Myers with support from senior associate Christopher Sullivan and associate Charlotte Clarke. Tax partner David Harkness and senior associate Lisa Barningham advised on the tax aspects of the transaction.