Ellisons Solicitors recently advised Aquos Schottel Marine Technologies GmbH in connection with their acquisition of Swift Anchors Limited.
Corporate and Commercial Partner, Petra Sharp, led the transactional team alongside Abigail Williamson and Tina Maxey providing support with the employment aspects of the acquisition.
Swift Anchors has developed a unique technology that enables faster and highly cost-effective anchoring and mooring solutions for rocky seabeds. This patented technology offers offshore energy customers, for the first time, the ability to develop large floating structures and farms, like the emerging floating offshore wind (FOW) energy, on a commercial scale in such areas. With many populated regions of the world lacking a shallow and soft seabed for conventional grounded offshore wind turbines, the Swift Anchors technology is enabling such regions to accelerate the energy transition towards a carbon-free future.
The deal was complex involving a pre-completion hive down of the anchoring business from Sustainable Marine to its then wholly owned subsidiary Swift Anchors Limited before the sale by it of the entire issued share capital to AQUOS Schottel.
Sascha Scholz, CEO of Aquos Schottel Marine Technologies GmbH said: “Thanks to the quasi-real-time support of Petra Sharp and others on Ellisons’ team, we were able to work very well through the various stages of this important transaction to a successful close”
Partner, Petra Sharp, who led the team at Ellisons said: “It was great to be working again with the team at AQUOS Schottel headed by Sascha Scholz, CEO on this strategic acquisition. The acquisition was significant for our client as the technology developed and offered by Swift Anchors aligns with Aquos’ strategy to expand within the growing renewable energy industry, as well within traditional markets such as aquaculture, buoys and other floating structures.”
