Marlow’s Moorcrofts LLP advises on sale of Levelise
Marlow-based Moorcrofts LLP have announced their role in the sale of Levelise Limited to BUUK Infrastructure No 2 Limited.
The Moorcrofts team, led by Corporate Partner Peter Woolley with support from Corporate Associate Mohsin Shabbir, Commercial Property Partner Julia Ferguson and Employment Associate Lindsay Abbott, advised Levelise’s founder shareholders on the transaction.
Other professional advisers on the transaction included Travers Smith LLP (acting for BUUK) and Bristows LLP (acting for Social Energy Limited).
The Oxford-based technology start-up was founded by ex-Sharp hardware and software engineers, data scientists, algorithm developers and renewable energy specialists in 2017, going on to create a home energy management system which links high numbers of domestic battery systems to a suite of advanced algorithmic controls: The Levelise cloud.
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Steve Day, a director of Levelise, said: “We hope that BUUK’s acquisition of Levelise will help to support compliance with the Future Homes Standard, as well as opening opportunities to scale Levelise’s innovative technology.
“As part of its offering, Levelise provides savings and direct payments to residential customers through the provision of demand response services, helping homeowners to reduce their energy costs. Moorcrofts (and in particular, Peter Woolley) has acted for Levelise and its founder shareholders for a number of years.
“Thanks to the Moorcrofts team for all of their hard work and help on the sale process. It was a pleasure to work with Peter and his team again, given their understanding of our interests, needs and concerns.”
Peter Woolley said: “Moorcrofts was delighted to advise Levelise’s founder shareholders on this sale, having first acted for them on the sale of their controlling interest in Levelise in 2019. The UK home energy storage sector has experienced some market consolidation recently, although BUUK’s acquisition of Levelise could help with plans to reach “net zero” by 2050.
“This was an interesting and rewarding transaction, and I expect the founder shareholders to play a key role in helping to further develop Levelise’s services, and also assist with Levelise’s integration into BUUK’s wider offering of utility infrastructure solutions.”
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