Corporate lawyers at leading law firm Geldards have advised on the sale of Leicester-headquartered Mark Group to American renewable energy company SunEdison.
A leader in the UK residential market, Mark Group delivers energy efficient solar systems, heating systems and insulation products to approximately two million customers.
Geldards’ corporate team advised Mark Group’s shareholders on the sale and Paul Feenan, a partner in the team explained: “This was a significant deal both for Mark Group and the renewable energy sector in the UK.
“We’re delighted to have helped the shareholders realise a sale that will not only benefit an industry leading company in the long term, but also stimulate growth and competition to meet the growing demand for renewable energy solutions in the UK.”
Geldards’ corporate team consisted of client relationship partner David Tilly, senior associate Matt Hussey and solicitor Leanne Maund. Specialist support was provided by Caroline Findlay (property), Rhys Wyborn (employment) and Andrew Evans (tax).
The acquisition of Mark Group will give SunEdison, a world leader in solar photovoltaic and semiconductor technology, a direct sales channel to the UK domestic and commercial market.
Mark Group, which has 14 depots around the UK, had previously been one of SunEdison’s UK partners offering solar sales and installation.
Lee Cottingham, one of the selling shareholders, commented: “It was important for us to find a buyer which would provide Mark Group with the opportunity to expand and continue to provide great value whilst supplying insulation, solar power and green energy products to its customers.
“Having dealt with SunEdison for a number of years, and given their world leading position in the industry, we know we have found the ideal buyer.
“The team at Geldards provided exactly what we needed – practical, commercially sound advice, ensuring we achieved the right deal as shareholders and for the future of the company.”
