Rising Stars: Corporate And M&A

Firms To Watch: Infrastructure: M&A and acquisition financing

Sidley Austin LLP significantly invested in its London infrastructure practice in 2023 through the addition of partners  James MacArthur and Ed Freeman from Weil, Gotshal & Manges (London) LLP .

Infrastructure: M&A and acquisition financing in London

A&O Shearman

A&O Shearman acts on the full range of infrastructure and energy matters, with mandates including roles on high profile telecom acquisitions, investments in wind projects and advising on investments in civil infrastructure projects in the Middle East. The firm demonstrates deep knowledge and understanding of a variety of assets, handling work from TV infrastructure, data centres and subsea fibre optic networks, through to wind, gas and green ammonia projects. Industry veteran David Lee leads the team and is singled out for his work advising on both indirect and direct equity investments in a variety of developments.  M&A lawyer Richard Evans sits alongside Lee at the helm of the group and has a broad practice that sees him regularly advise on multi-jurisdictional international mandates. Jocelyn Land is active on structured finance transactions, whereas Jan Skuhravý focuses on cross-border M&A and acquisition financing. Ed Moser advises sponsors, borrowers and funders on the development, acquisition and financing of energy and infrastructure assets. Sara Pickersgill and Emma Shelston left the firm alongside finance partner Stuart Rowson at the start of 2023 to join Kirkland & Ellis International LLP.

Practice head(s):

David Lee; Richard Evans

Other key lawyers:

Ed Moser; Jocelyn Land; Jan Skuhravy

Key clients

Igneo Infrastructure Partners




Partners Group

Cordiant Digital Infrastructure Limited

Macquarie / GIG

Global Infrastructure Partners

3i Infrastructure plc

JP Morgan Asset Management

Work highlights


The London infrastructure market has seen significant movement of senior lawyers in recent years but Ashurst has managed to maintain a consistent team and indeed strengthened its practice further through the arrival of Katie Williams from Linklaters LLP. Trusted by many large international clients, the firm has an strong reputation for acting on complex energy and infrastructure projects, advising on both financing  and  buy and sell-side M&A transactions. Energy transition and net-zero matters also form a key plank of the firm's work, with team head  Jason Radford taking on an increasing number of ESG-compliant investment deals for leading industry names.  Radford, who advises on both brownfield and greenfield projects, leads the team alongside Michael Burns, a seasoned M&A specialist who advises on M&A and capital raisings, with a focus on energy transition as well as digital infrastructure. Gaby Jones is noted for the impressive scale of her practice, while acquisition finance lawyer Laura Ho is a first port-of-call for private equity sponsors, financial institutions, funds and corporates.  Naomi Nguyen has a focus on M&A in the renewable energy sphere, while Helen Jones is recommended for her corporate finance work.

Practice head(s):

Jason Radford; Michael Burns

Other key lawyers:

Gaby Jones; Laura Ho; Naomi Nguyen; Helen Jones


‘Outstanding team with great technical knowledge, strong commercial skills and outstanding document control/management’

‘Gaby Jones is simply the best M&A lawyer in power and renewables in the City. Her commitment is unparalleled – she never gives up until the job is finished. She possesses an amazing commercial ability to get her points across without creating tension with the other side and manages her team from start to finish. She combines leadership with industry passion and unique legal skills.’

Key clients




Octopus Renewables


Foresight Energy Infrastructure






Cambridge Power

Generation Capital

J.P. Morgan Asset Management

Work highlights

  • Advised the lenders in relation to the $4 billion acquisition of GETEC
  • Advised GIC on its strategic investment, alongside global investment firm Carlyle, in Eneus to support the development of a 14GW+ pipeline
  • Ashurst advised Equitix on the stock funded investment in Calisen and the sale of equity in MapleCo to Calisen

Clifford Chance LLP

Renewable energy and digital infrastructure mandates form the cornerstone of the practice at Clifford Chance LLP, with the firm acting for global investment managers on multi-billion dollar deals. The firm has demonstrable strength in all areas of corporate M&A and financing, including advising on innovative debt structures, counseling lenders on financing in relation to acquisitions, and guiding clients through financing the remaining stakes in brownfield infrastructure. The team regularly advises on wind development matters across the UK and Europe, as well as EV charging, telecoms, and fibre networks matters. Team head Michael Bates is particularly active on financing agreements involving fibre networks, while Charlotte Madden works closely with private equity firms and infrastructure funds on a variety of corporate deals, demonstrating significant expertise across a range of matters. Alex Dimsdale-Gil has significant experience in digital infrastructure acquisitions. Julia House  and Jonathan Dillon are both recommended.

Practice head(s):

Michael Bates; Charlotte Madden

Other key lawyers:

Alex Dimsdale-Gill; Julia House; Jonathan Dillon


‘Great and consistent team and product’

‘Investing in the relationship’

‘Michael Bates provides outstanding senior level support’

‘Julia House is an excellent, personable junior partner.’


Key clients

3i Infrastructure

Arcus Infrastructure


Caisse de dépôt et placement du Québec

EQT Infrastructure


Partners Group


TPG Capital

Macquarie Infrastructure and Real Assets

Interogo Holdings


Work highlights

  • Advised a consortium of AXA IM Alts and Crédit Agricole Assurances on the acquisition of a 50% stake in the 1.3 GW Hornsea Two offshore wind farm in the UK.
  • Advised Global Infrastructure Partners on all aspects of the marketing and sale of its equity interest in the Hornsea 1 Offshore wind project in the UK
  • Advised CIC as part of a consortium led by Macquarie Asset Management which acquired a majority stake in National Grid’s gas transmission and metering business for an estimated enterprise value £9.6 billion.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP made a significant impression in the City infrastructure market with the hire of Sara Pickersgill from A&O Shearman and James Boswell and Toby Parkinson from Clifford Chance LLP at the start of 2023, a move which allows the firm to act for an ever-expanding portfolio of national and global clients in the energy and infrastructure sectors. The sponsor-focused team advises a number of private equity funds investing in this space, and its offering is further strengthened by the global firm's ESG practice. While still a developing practice, the team has been engaged in a number of premium M&A deals, fund formations, joint ventures and corporate restructurings, with strong expertise in utility, digital infrastructure, and energy transition mandates. Pickersgill is a leading M&A partner who regularly advises top-end sponsors on high profile mandates, while Boswell leverages more than 20 years' debt finance experience to advise sponsors and borrowers on financing a broad array of acquisitions, including multi-sourced platform financings, holdco financings and equity bridge loans. Parkinson is a highly-regarded M&A practitioner, with his industry experience working as a director at OMERS an extra selling point for clients. The firm also added James McGivern and Emma Shelston from Linklaters LLP and A&O Shearman as partners in 2023, with the former largely focusing on debt finance and regulatory work, and the latter on M&A.

Practice head(s):

James Boswell; Toby Parkinson; Sara Pickersgill

Other key lawyers:

Emma Shelston; James McGivern


‘The K&E team is newly established, but they have made great hires in Sara Pickersgill, Toby Parkinson and James Boswell. This gives them a leading practice which will stand up against any of the other firms in terms of client relationships and breadth of experience across M&A and financing.’

‘ Sara is highly experienced and led the infrastructure business at A&O. She is very commercial, on top of the detail, pragmatic, easy to work with and experienced across multiple sectors. Toby brings some in-house experience from OMERS so really understands the investor’s perspectives. He is hard working, in the detail, sharp and effective’

‘James Boswell is a market leading partner with huge experience across all sub-sectors. The wider team is also being built out to cover all relevant sectors’

‘Sara Pickersgill – incredibly bright, excellent personable skills, great communication and can stand up to anyone. Calm and a joy to work with – breath of fresh air. Like a thoroughbred race horse. James Boswell is very commercial, hands on and always make sure the legal process in deals runs smoothly’

‘Open and honest communication from James Boswell and his team. They have a pragmatic approach to problem solving and do not only stick to the legal technicalities around these transactions and agreements.’

Key clients

Antin Infrastructure Partners

Macquarie Asset Management

EQT Infrastructure

KKR Infrastructure

Global Infrastructure Partners



Work highlights

  • Represented Antin Infrastructure Partners in the acquisition of Wildstone, the leading owner of independent outdoor media infrastructure in the UK, from Digital Bridge Group.
  • Advised Macquarie Asset Management on the agreement to enter into a strategic partnership with NTT’s wholesale data centre facilities across Europe and North America.
  • Assisted EQT Infrastructure with the acquisition of Green Investment Group’s (“GIG”) ownership stake in; (i) Covanta Green UK Limited, (ii) Covanta Green Jersey Assets Limited and (iii) Covanta Green Protos Holding Limited, which in turn hold ownership stakes across four Waste-to-Energy facilities in the UK.

Latham & Watkins

Latham & Watkins fields a team of ‘infrastructure specialists’ possessing an ‘incredibly impressive breadth of experience across all major financings.’ The firm has a deep bench of transaction finance practitioners who can competently advise on mergers and acquisitions, joint ventures and co-investments, as well as advising funds and strategics on financing a range of infrastructure and energy deals.  The firm regularly advises leading PE investors through financing and refinancing infrastructure deals. Team head Conrad Andersen draws praise from clients as one of the most experienced figures in the infrastructure space, offering advice to lenders on complex infrastructure financing deals. Seonaid Todisco specialises in all aspects of infrastructure and energy acquisitions and financings across core and hybrid infrastructure . Co-practice head Simon Tysoe is an established M&A practitioner, with particular strength in oil & gas and energy, while corporate and PE partner Beatrice Lo is well regarded for her work in the energy transition sphere.  Rebecca Crowley is also praised by clients as being one of the ‘best in the business’ for acquisition finance expertise.  Well-regarded infrastructure M&A partner Brendan Moylan left for Weil, Gotshal & Manges (London) LLP in March 2023.

Practice head(s):

Conrad Andersen; Simon Tysoe

Other key lawyers:

Seonaid Todisco; Beatrice Lo; Rebecca Crowley


‘Clear in the explanation of key material issues and strong commercial advice given. Strong team and bench, transparent in all interactions.’

‘Latham has a team who work together as a unit and are highly resilient when faced with difficult transaction deadlines or negotiations. The team are infrastructure specialists, but learnings between sectors in infrastructure can be usefully applied to maintain best practice and market innovation in structuring documentation packages.’

‘Conrad leads the team and has a depth of experience across infrastructure sectors and geographies which is invaluable in establishing efficient financing platforms. Leads a deep team, with resilience and significant client focus.’

‘Conrad Andersen and Rebecca Crowley are the best in the business’

‘Incredibly impressive breadth of experience across all major financings in the infrastructure space, providing them with a unique ability to comprehensively state what the market is.’

‘Conrad Andersen continues to be top of our (and seemingly all other financial sponsors’ and debt advisors’) list for sponsor counsel on complex financings. His experience, commerciality and effectiveness of negotiation style is unrivalled.’

‘Conrad and Seonaid are both market leading partners with huge experience. There is also a deep bench of high quality associates. When we use L&W we know that we get excellent partner engagement and exceptional deal execution’

‘Conrad Andersen is the pre-eminent infrastructure finance lawyer in London market. He has an unsurpassed depth of experience and technical knowledge. He is excellent at acting for both borrowers and lenders and can always be relied upon to act in a collaborative and commercial manner. He is our first port of call when we are asked to recommend infrastructure lawyers to our clients.’

Key clients

3i Infrastructure

Allianz Global Investors


DigitalBridge Group

IFM Investors

ING Bank N.V. London Branch

Antin Infrastructure Partners

Ontario Teachers’ Pension Plan


Schroders Capital


Swiss Life

FSI / Igneo

Gresham House Energy Storage Fund

IFM Investors

National Australia Bank

Ontario Teachers


Global Infrastructure Partners


Work highlights

  • Advising on the refinancing for Finerge Europe Holding S.a.r.l., a renewable energy producer, to refinance existing debt.
  • Advising in connection with the platform financing for Hippocrates Holding S.p.A., a company that manages and acquires pharmacies across Italy.
  • Advised on the acquisition by Global Infrastructure Partners (GIP) and KKR of a majority stake in Vantage Towers, a Germany-based mobile telecommunications tower infrastructure operator, in a joint venture with Vodafone.

Linklaters LLP

A firm fielding ‘very strong partners across the board’, Linklaters LLP‘ infrastructure practice is well positioned to act on a significant volume of high-profile deals, possessing wide-ranging expertise pertaining to all asset classes, with notable specialisms in renewables and emerging infrastructure. The group demonstrate an even spread of big ticket mandates both domestically and internationally.  Michael Honan leads the practice and is highlighted for his experience in wind assets and strong track record in energy-to-waste and water matters, whereas co-head David Martin is at the forefront of the group’s digital infrastructure offering, particularly in relation to towers, fibre and data centres. Ross Schloeffel focuses on advising funds and strategics on the financing and disposal of a variety of assets, while the arrival of John Guccione, previously of Latham & Watkins, bolsters the M&A capabilities of the group and helps bridge the gap left by the departures of M&A partner Jessamy Gallagher  and finance specialist Stuart Rowson to Paul Hastings LLP

Practice head(s):

Michael Honan; David Martin

Other key lawyers:

Ross Schloeffel; John Guccione; Richard Ginks; Chris Boycott (M&A)


‘The service is tailor-made. We have had access to multiple specialists with wide ranging expertise.’

‘Richard Ginks was very present in the project, great expertise in the market showing broad knowledge in infra, projects, finance.’ 

‘The Infra M&A team at Linklaters is very strong and consistently delivers excellent client service to us on our renewable projects. There is a good depth of knowledge across all levels of associates and strong partner involvement throughout a deal. Good ability to take both a sponsor and lender perspective.‘

‘Very experienced in infrastructure transactions and in particular working for financial sponsors.’

‘Michael Honan has been an excellent relationship partner and assisted us with a number of transactions. He is extremely approachable, available and easy to work with. He has worked hard to get to know our institution and what is important to us.’

‘ Chris Boycott is extremely knowledgeable and able to distill that knowledge in a way that is easy for his clients to comprehend.’

‘Great team – huge experience across sectors. We always know we get a great service when using Linklaters. By having both breadth across multiple sectors, and also depth within a particular market, the team has the unique ability to act on large infrastructure transactions to provide a great full service.’

‘Very strong partners across the board. Julian Davies must be the most knowledgeable structure finance lawyer in the city. 

Key clients


Australian Super



British Government


Canada Pension Plan Investment Board (CPPIB)

Caisse de dépôt et placement du Québec (CDPQ)

CK Infrastructure

Cory Riverside Energy




First Sentier Investors

Global Infrastructure Fund

Global Renewables Fund


Green Investment Group

IFM Investors

InfraVia Capital Partners

I Squared Capital

JP Morgan

Macquarie Group

Morgan Stanley Infrastructure

National Grid


Olympia Odos Concession Company

Ontario Municipal Employees Retirement System (OMERS)

Ontario Teachers’ Pension Plan Board (OTPP)

Ørsted Wind Power

Partners Group





Work highlights

  • Advised Ørsted on the £3bn divestment of a 50% stake in its 1.3 GW Hornsea 2 Offshore Wind Farm to a consortium comprising AXA IM Alts and Crédit Agricole Assurances.
  • Advised OTPP on its acquisition of a 25% minority stake in electricity transmission network business, SSEN Transmission from SSE plc for cash consideration of £1.465bn and on related arrangements.
  • Advised National Grid in respect of its £4.2bn sale of a 60% stake in its gas transmission and metering business to a consortium of long-term infrastructure investors.

Paul Hastings LLP

Counting a stellar list of transatlantic clients, Paul Hastings LLP ‘s growing London infrastructure team has been taking on an increasing number of instructions. The firm has been investing heavily in the practice, as evidenced by the hire of M&A expert Jessamy Gallagher and acquisition finance partner Stuart Rowson in 2023 who bring considerable expertise and market experience from their time at Linklaters LLP. The cross-border practice  advises sponsors investing in the infrastructure market predominantly through M&A transactions, leveraging proficiencies in banking, capital markets and finance. Gallagher sits at the head of the group and possesses a strong understanding of the full range of assets from utilities to emerging digital developments, while co-head Rowson deals with the financing required to facilitate complex transactions. Infrastructure financing partner Derwin Jenkinson and M&A partner Steven Bryan left in autumn 2023.

Practice head(s):

Jessamy Gallagher; Stuart Rowson


‘The team have a wide reach and extensive experience. It is clear that they work well together and the combined knowledge and execution ability is exceptional. The consistency and approach to client care marks them out as being ahead of the competition’

‘The team is very knowledgeable in this space and combines it with a commercial outlook that is really helpful. They are adept in getting deals done in a tight timeframe and cut to the heart of the issues with ease.’

Key clients

Amber Infrastructure


Allianz Capital

John Laing Group (owned by KKR)


Readypower Group

Castle Water

Antin Infrastructure


EIG Energy Partners

Brookfield Infrastructure/ Brookfield Private Equity

Arcus Infrastructure Partners LLP

Hermes Infrastructure

Salt Mobile SA

Cosco Shipping Ports Limited

Angel Trains

Cory Riverside

Nat West



Morgan Stanley Infrastructure Partners


BofA Securities

Fair Market Value Capital Partners

Work highlights

  • Advised specialist infrastructure fund manager Amber Infrastructure and its related entities International Public Partnerships Limited (INPP) and Swiss Life Asset Managers, alongside co-shareholders Allianz Capital Partners and infrastructure fund manager Dalmore Capital Limited, on the purchase of a 10.66% shareholding in the Thames Tideway Tunnel from DIF Capital Partners.
  • Advised John Laing in connection with the acquisition, and related financing, of the entirety of the shareholding interest in two special purpose vehicles, Electribus Bogotá USME I S.A.S. and Electribus Bogotá Fontibón II S.A.S. (collectively, the “Electribus Project”) which are responsible for the acquisition and commissioning of 259 electric buses for the public transport authority of Bogotá (SITP).
  • Advising Cory on the acquisition financing of the McGrath Brothers waste business. The financing involved a holdco acquisition facility with recourse to both the equity value in the existing Cory operating company group and the McGrath business. The facility was structured with total loan life cover and DSCR financial covenants and a bespoke covenant package with limited “look-through” to the operating companies.

Slaughter and May

With its entrenched reputation for high-end M&A across a host of sectors, Slaughter and May has a strong focus on the infrastructure market, with digital and renewable assets forming the cornerstone of the blockbuster deals it regularly advises on. The depth and breadth of the practice’s bench allows the team to advise on large-scale transactions for global industry titans, advising on holding company sales, business reorganisations and carve-outs that require integral corporate, financing, and construction expertise.  Considerable global reach is also displayed through the team's advice in energy deals across India, Africa and notably the Middle East - a jurisdiction where the group advised Blackrock on a multi-billion dollar equity stake in Saudi Aramco. Team head Michael Corbett is an M&A specialist, boasting impressive credentials overseeing complex cross-border transactions initiated by infrastructure and energy funds and strategics, as well as wielding a wealth of experience dealing with governmental and public bodies. Hywel Davies advises on a wide array of M&A, joint ventures and corporate restructurings, with a strong focus on energy and infrastructure mandates in Europe. Oly Moir has shown an impressive level of activity over recent months, working on mandates for a number of the team's key clients, with a far-reaching skillset that is especially concentrated on traditional and renewable energies. Iain McCann and Daniel Mewton also come recommended.

Practice head(s):

Michael Corbett

Other key lawyers:

Hywel Davies; Oly Moir; Iain McCann; David Mewton


‘High quality service considering all aspects of the transaction and requirements, on both a technical and commercial level. Ability to pitch explanations at the required level with client staff, whilst also leading technical negotiations with similar high-calibre lawyers.’

‘Exceptional team.  Exceptional depth of knowledge and very solutions orientated in terms of closing out an acceptable and balanced agreement.’

‘Daniel Mewton is the most exceptional associate that I have ever worked with. In depth knowledge, exceptional drafting skills supplemented by an ability to generate the highest quality content in very short periods of time.’

‘Very strong market knowledge and great attention to detail. They know the legal and commercial issues and how to fix them.’

Key clients


Government of the Republic of Botswana

European Bank for Reconstruction and Development (advising in conjunction with Mazars Croatia)

Everton FC


Hyphen Hydrogen


Suez SA


UK Infrastructure Bank


Marubeni Europower Limited

YTL Arena

Department of Levelling Up, Housing and Communities


Spirit Energy

Kellas Midstream

General Electric

VPI Holding Limited

Work highlights

  • Advised BlackRock Real Assets (“BlackRock”) on a consortium investment of approximately USD 525million for a stake of between 9.76% and 11.43% in Tata Power Renewable Energy Limited (“Tata Power Renewables”), one of the largest renewable energy companies in India.
  • Advised UK Infrastructure Bank in relation to its £200 million debt investment as a cornerstone lender in the largest digital debt transaction in the UK market. The deal, which is worth £4.9billion in total, supports a programme which marks a step-change in the acceleration of full fibre broadband across the UK to meet Government targets.
  • Advised Ferrovial S.A. and its group companies on:  the sale of Amey plc; the reorganisation of its waste services business; and the sale of its utility services business.

Baker & McKenzie

Offering multijurisdictional regulatory and transactional capabilities, Baker McKenzie LLP advises major industry players on landmark deals across the full range of infrastructure and energy assets, with a strong focus on energy transition and emerging asset classes. Beyond its proficiency in high-profile M&A, the firm competently guides clients through shareholder arrangements, equity injections, divestment strategies, joint ventures and sales via competitive auction processes. Furthermore, the practice continues to be a popular destination for those seeking counsel on sustainable investing, with the group overseeing an array of carbon project developer acquisitions, as well as the buying and selling of interests in carbon recycling and waste-to-energy portfolios. Practice head and M&A specialist Nick Rainsford acts for a slew of funds and corporates on complex, cross border deals, with a particular focus over the past year on fibre and interconnector transactions. Susie Davies joins Rainsford at the helm of the team, leveraging previous in-house experience to become a first choice expert for mining and mineral matters as well as broader energy deals.  David Duncan and Neil Donoghue are also recommended for mining and nuclear work respectively.

Practice head(s):

Nick Rainsford; Susie Davies

Other key lawyers:

David Duncan; Neil Donoghue


‘Hard working and direct.’

Key clients


Amut S.p.A.

Anaklia Development Corporation


Basalt Infrastructure Partners


C. Ro Ports


CLdN Links SA


DIF Capital

Edwardian Hotels


Fiera Infrastructure

Hitachi Limited

Hutchison Ports

Inter Terminals Ltd

Itochu Corporation

Kew Capital

Marguerite Fund

Standard Chartered Bank


UK Export Finance


Work highlights

  • Advised Basalt Infrastructure Partners on the acquisition of 100% of the Unilode Aviation Solutions group, the global unit load device leasing and maintenance company.
  • Advised CLdN Links SA in respect of the acquisition of Seatruck Ferries Holding Limited from Clipper Group A/S.
  • Advising Colt on the entry into an exclusive arrangement for the proposed acquisition of Lumen Technologies’ Europe, Middle East and Africa business for USD 1.8 billion.


Demonstrating prolific activity across the UK, Europe, APAC and Africa, CMS engages in substantial volumes of  infrastructure transactional work, leveraging its wide array of resources to provide a full service to clients across the sector. Highly experienced Paul Smith leads a team that also includes co-head James Snape , who is often called on to counsel clients on secondary market financing and transactions. Bill Carr  and Kristy Duane are key contacts for infrastructure funds and investment platforms when they require advice on the acquisition and disposal of interests. Further expertise in this area been added through Edward Holmes who joined from Clifford Chance LLP in 2022 and focuses on domestic and international infrastructure M&A.



Practice head(s):

Paul Smith; James Snape

Other key lawyers:

Bill Carr; Kirsty Duane; Edward Holmes

Key clients

Aviva Investors


John Laing

The Renewable Infrastructure Group

InfraRed Capital Partners











Mainstream Renewable Power




Babcock & Wilcox

National Grid

Laing O’Rourke

Johnson & Johnson

Assured Guaranty








Low Carbon



Pivot Power


Infrared Capital Partners


BP Chargemaster



Société Génerale

Crédit Agricole



VPI (Vitol)




iCON Infrastructure

Balfour Beatty

Public Health England

Transport for Greater Manchester

Manchester Airport Group

University of Sheffield







Work highlights

  • Advised NeuConnect as it achieved financial close on its £2.4bn (EUR 2.8bn) electricity interconnector project with a consortium of over 20 national and international banks and financial institutions.
  • Advised Equitix on the purchase of stakes in AirTanker, the UK MoD air to air refuelling project company, from Rolls-Royce and Babcock.
  • Advising on Green energy transmission Link Projects

DLA Piper

DLA Piper combines its extensive international footprint with a deep-rooted understanding of a variety of asset classes in the traditional, renewable and ever evolving digital infrastructure space to competently serve the interests of its premium client base. The team demonstrates an exceptional display of multi-jurisdictional engagement, acting on mandates such as wind portfolio acquisitions in Chile, power deals in Africa, and Middle Eastern tower deals. In the Nordic region, the team – routinely led by global co-chair of the energy and natural resources sector Natasha Luther-Jones – has a strong track record of wind farm deals, while in the UK the group has overseen first-time market entries from data centre manufacturers as well as natural gas supply transactions. Group head Martin Nelson-Jones handles some of the firm’s most important relationships, and is singled out for his considerable expertise in wind-related mandates, while energy specialist Tracey Renshaw has been a key-contact for Shell as they pursue a number of solar power and biogas acquisitions across the globe. Ben Forgiel-Jenkins also comes well recommended.

Practice head(s):

Martin Nelson-Jones

Other key lawyers:

Natasha Luther-Jones; Tracey Renshaw; Ben Forgiel-Jenkins; Derwin Jenkinson; Steven Bryan

Key clients


Axa Real Estate Investment Managers UK Ltd

Azrieli Group Limited and Green Mountain AS

Digital 9 DC Limited

Elgin Energy

Greencoat Renewables PLC

Harrison Street Capital Partners

Iduna Infrastructure Ltd and Be.EV

Innergex Energia Renovable SpA

John Laing Investments Limited

Northleaf Capital Partners

Ooredoo Group LLC

Prime Capital Green Investment Fund

Shell International B.V.

UGI International LL

Work highlights

  • Advised Innergex Renewable Energy Inc. (TSX: INE) on its agreement to acquire Aela Generación S.A. and Aela Energía SpA, a 332-megawatt portfolio of three newly built operating wind assets in Chile, for a purchase price of USD686 million.
  • Advised Elgin Energy on the sale of a 519 MW portfolio of solar PV projects and 70 MW of co-located energy storage capacity to ScottishPower Renewables (UK) Limited.
  • Advised Ooredoo Group and six of its MNO subsidiaries across the Middle East on a tower deal intended to close in 2023 that will see a total of 20,000 towers transferred for an investment of c. USD1.5 billion

Herbert Smith Freehills LLP

Trusted by  investment houses, multinational manufacturing conglomerates, and power companies, Herbert Smith Freehills LLP cements its position at the cutting edge of infrastructure M&A through a stellar book of work across assets including satellite and telecommunications, energy storage and gas, and renewable energy. The firm is also a leading player in transport infrastructure, counting Stagecoach among its clients. Global co-head of infrastructure Gavin Williams leads the London practice and counts pension and sovereign wealth funds among his clients.  Sarah Pollock is sought out for her considerable knowledge in the power and renewable energy sector, working on deals including wind and solar photovoltaic parks in Europe. Tim Briggs leverages his  regulatory background to advise on transport and water mandates, regularly working alongside Tom Marshall who is noted for his work with public sector bodies. Emma Stones is recognised for her support on a number of the firm’s key matters. David Wyles joined Eversheds Sutherland (International) LLP in 2022.

Practice head(s):

Gavin Williams

Other key lawyers:

Sarah Pollock; Tim Briggs; Tom Marshall; Emma Stones


‘The team know our business well. They are very good at cutting out the noise and providing calm and sensible advice which gets to the heart of what needs to be achieved.’

Key clients


AIP Management


Allianz Capital Partners

AMP Capital

Ancala Partners

Antin Infrastructure Partners


Asterion Industrial Partners

Australian Super


Banco Santander

Berkshire Hathaway

Birmingham Highways Limited



CBRE Investment Management



Copenhagen Infrastructure Partners

CPP Investments

Deutsche Bank

DIF Capital Partners


DWS Infrastructure


EDF Invest


Federated Hermes

Ferrovial Airports

GIC Infrastructure


GLIL Infrastructure

Goldman Sachs

Gresham House

Hartree Partners

High Speed Two (HS2) Limited


iCON Infrastructure

IHS Towers

IFM Investors

IMCO Investments (Investment Management Corporation of Ontario)




Japan Bank for International Cooperation


Jiangsu Shagang

John Laing

J.P.Morgan IIF

Kohlberg Kravis Roberts & Co

Lloyds Bank

London Luton Airport Operations Limited


Marubeni Corporation



National Grid

NNB (UK New Nuclear Build JV between EDF and CGN)


Northern Powergrid Metering Limited




Partners Group

Pearl Infrastructure

Proventus Capital Partners

PSP Investments

Queensland Investment Corporation (QIC)

Reliance Communications

Renewable Power Capital

Severn Trent




State Grid China


Tata Communications

Telefónica UK and Telefónica S.A. / O2


The Go-Ahead Group


Transmission Capital Partners

Transport for London




Work highlights

  • Acted as a legal adviser to funds advised by Kohlberg Kravis Roberts & Co in connection with its ‘take-private’ of John Laing.
  • Advised GIC in relation to the purchase of a 30% stake in CETIN
  • Advised Stagecoach Group plc (Stagecoach) on the recommended cash offer from Inframobility UK Bidco Limited, a company indirectly wholly owned by Pan-European Infrastructure III, SCSp, an infrastructure fund managed and advised by DWS Infrastructure, valuing Stagecoach at c.£600m

Hogan Lovells International LLP

Hogan Lovells International LLP‘s ‘multidisciplinary and multicultural team’, which is led globally by Philip Robb,  possesses ‘extensive legal knowledge’, allowing it to act on blockbuster M&A deals for an impressive array of global energy players, asset managers and senior lenders. The team shows a real strength creating investment platforms, as well as establishing other platforms in the UK focused on digital infrastructure assets. Beyond this work, the group has advised companies and private funds on investments in projects across Latin America, Africa and Europe.  Finance partner Andrew Gallagher‘s comprehensive sector focus sees him regularly work with senior lenders and borrowers on the acquisition and financing of a number of projects, most regularly with banking clients in connection with the digital infrastructure space. Florian Agnel has built an impressive portfolio of international mandates, with a broad skillset including M&A, secondary market and project development work. Philip Brown is reputed for his debt and equity financing capabilities, as well as his  understanding of the UK infrastructure market. Sarah Shaw focuses on M&A within the energy space – an area of work that has been strengthened further through the arrival of Alastair Young from Bracewell (UK) LLP in April 2023.

Practice head(s):

Philip Robb

Other key lawyers:

Andrew Gallagher; Philip Brown; Florian Agnel; Sarah Shaw; Alastair Young


‘Good strength in depth’

‘Andrew Gallagher brings to bear huge experience, and able to provide view of the big points in a timely manner

‘Fully dedicated people allocating the necessary resources to the different parts of a project and not billing for people where they don’t contribute. Multidisciplinary and multicultural team that adds on to the their extensive legal knowledge.’

‘When Florian Agnel joins a project he is part of the team, and confidently and competently indicates all pros and cons to the sponsor to decide.’

Key clients

The Crown Estate

Macquarie Capital

Natixis SA

Transmission Capital Partners



Vinci Concessions and Mytilineos consortium

Sojitz Corporation

Affinity Water


Cross London Trains Limited


Wintershall Dea

Work highlights

  • Advised longstanding client The Crown Estate on the award of landmark agreements for the development of six fixed offshore wind projects. The completion of these agreements marks the culmination of a significant UK project known as Offshore Wind Leasing Round 4.
  • Advised Natixis, as debt arranger, and the senior lenders for a Macquarie-led consortium on the acquisition financing of a majority stake in a substantial fibre to the home (FTTH) access network located in rural areas of several Spanish provinces belonging to MasMovil in Spain.
  • Advised a large group of infrastructure senior lenders to TCP (majority owned & managed by Amber Infrastructure/INPP) on the acquisition and multi-sourced financing of the 714 MW East Anglia One Offshore Wind Transmission assets (OFTO) from the wind farm operator owned by Scottish Power Renewables and Macquarie’s Green Investment Group.

Norton Rose Fulbright

Spearheaded by Raj Karia, the team at Norton Rose Fulbright has ‘vast subject matter expertise and bench strength’, offering a strong competence across the full range of infrastructure and energy assets, with particular strength in digital infrastructure and transport. Given the global reach of the firm, the team advises on a litany of complex, cross border mandates, including key transactions such as tower deals,  for major financial and industry players in Africa, Europe and the Middle East. Providing counsel to large global investment platforms alongside public limited companies, market veteran Stephen Rigby is a go-to for renewables work, with a particular focus on getting new capital into infrastructure. Christopher (Chris) Grieves has worked on a roster of big-ticket mandates and has been notably active on mining and oil deals in the United Arab Emirates, while Oliver Stacey‘s expertise includes telecoms and data centre transactions. At the more junior end, Andrew Davies and Mark Maurice have been exposed to a wide variety of work over the past twelve months and are recognised for their supporting roles on complex, multi-jurisdictional transactions. Nari Ertem has been instrumental to the practice’s deals centering around Africa and the Middle East.

Practice head(s):

Raj Karia

Other key lawyers:

Stephen Rigby; Chris Grieves; Oliver Stacey; Andrew Davies; Mark Maurice; Nari Ertem


‘The team has vast subject matter expertise and bench strength. Having worked with our business for over a decade their knowledge of us and our challenges is excellent.’

‘Stephen Rigby is exceptional’


Key clients

Absa Bank Limited

AMG Pension Fund

European Investment Bank


Hellenic Republic Development Fund

Hermes Investment Management

John Laing Infrastructure

Africa Finance Corporation

Octopus Investments

Orange SA

Standard Bank

Standard Chartered Bank

The Renewable Infrastructure Group Limited


International Finance Corporation (IFC)

European Bank for International Development (EBRD)

Patina Rail

Schroders Greencoat

Greencoat UK Wind plc

Gore Street Capital

United Utilities

Work highlights

  • Advised bp on its joint venture with EnBW in relation to the development of two new UK offshore wind farms under the UK Round 4 Crown Estate seabed leasing round
  • Advised Patina Rail LLP and its shareholders on the merger of Eurostar International and Thalys.
  • Advised Eastcastle Infrastructure, a newly-formed towers developer in Africa, and its subsidiary in the Democratic Republic of Congo in relation to a tower portfolio acquisition from Orange DRC and tower services agreements with Orange DRC, and advising Eastcastle Infrastructure DRC in relation in relation to debt arrangements to fund acquisitions, capex development and working capital in DRC.

Pinsent Masons LLP

Pinsent Masons LLP  is active across the full range of infrastructure and energy matters and has a client list which features leading industry multinationals, investment funds and asset managers. The group is highly active on digital infrastructure deals, with mandates including battery storage and electric vehicle matters. The group is well known in the market for its strong cross-border capabilities, overseeing large acquisitions in areas like the Southern Sahara, Brazil and Australia, while also working on UK renewable and utility mandates. Gareth Hughes leads the global infrastructure M&A team, handling a steady stream of multijurisdictional mandates including acquisitions, disposals, and joint ventures, including a number of digital infrastructure mandates. Akshai Fofaria is principally recognised for his work on African energy deals - advising on some of the largest M&A and restructuring deals in the continent - and possesses strong regulatory and asset expertise. John Tyerman focuses on renewables and clean tech transactions.

Practice head(s):

Gareth Hughes

Other key lawyers:

Akshai Fofaria; John Tyerman


‘The whole team has very strong capabilities in  M&A infrastructure investments for investment funds. Due diligence reports are very comprehensive, well structured and comprehensible.’

‘Unmatched knowledge of the district heating market in the UK, active across most relevant projects and working with a wide range of stakeholders including local authorities, government/policy makers and investors. Good depth/breadth of capabilities’

Key clients

East Anglia One Limited

Eni S.p.A.

Arcus European Infrastructure 2 and GLIL Infrastructure

Centrica Business Solutions Management Limited

Gresham House

Systemiq Capital

Dalmore Capital Limited

Balfour Beatty Investments

M Group Services

Hanson Quarry Products Europe Limited

Fortescue Metals Group Limited

Work highlights

  • Advised East Anglia One Limited on the sale of transmission assets relating to the 714MW East Anglia One offshore wind farm (located in the North Sea, off the coast of Suffolk), to Transmission Capital Partners.
  • Acting as lead counsel to Italian oil and gas major Eni S.p.A in connection with the combination of the Eni S.p.A and bp upstream businesses in Angola to form Azule Energy (50/50 independent joint venture). Azule Energy is now Angola’s largest independent equity producer of oil and gas.
  • Advised Centrica Business Solutions Management Limited on the acquisition of the former Knapton Generating Station from Third Energy. Centrica plans to develop a 28MW battery on the site and is part of Centrica’s strategic plan to create a 900MW portfolio of solar and battery assets by 2026.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP is a frequent first port of call for some of the world’s largest buyout houses, such as Blackstone and KKR Infrastructure. Over the past year the team has been involved in market-leading take-private transactions, large-scale telecommunication deals, and multi-billion pound investments in Middle Eastern energy companies. It has also worked on matters including EV charging, fibre, and renewable energy developments. Amy Mahon leads the London practice, focusing on cross-border M&A and joint ventures, while Sinead O’Shea and Claire Williams are well-regarded for their experience with financial sponsors and funds seeking to finance and refinance transactions. Clare Gaskell is also recommended for her experience on private and public takeovers, working for a range of private equity and financial sponsor clients.

Practice head(s):

Amy Mahon

Other key lawyers:

Sinead O’Shea; Claire Williams; Clare Gaskell

Key clients


Apax Partners

The Blackstone Group

Blackstone Infrastructure Partners

Blackstone Real Estate Partners



Cubico Sustainable Investments

Open Dutch Fiber



EQT International Holdings B.V.


Global Infrastructure Partners


John Laing

J.P. Morgan

KKR Infrastructure


Morgan Stanley Infrastructure

Stonepeak Infrastructure Partners

Work highlights

  • Advising KKR Infrastructure on the acquisition of the entire issued share capital of ContourGlobal plc, pursuant to a public takeover transaction
  • Advising Blackstone in connection with its €21 billion recapitalization of Mileway
  • Advising Funds counselled by Apax Partners LLP in connection with the acquisition, together with Warburg Pincus LLC, of T-Mobile Netherlands Holding B.V. from Deutsche Telekom AG and Tele2 AB.

Weil, Gotshal & Manges (London) LLP

Well regarded in the market for its energy transition and ESG-incentivised work, Weil, Gotshal & Manges (London) LLP continues to grow its presence and client base in the market. Satellite, telecommunications, and fibre deals have been a particular strong part of the group’s practice over the last year,  as well as hard and social infrastructure mandates such as roads, transport and care services. The firm has seen significant movement in its team, adding highly regarded infrastructure M&A partner Brendan Moylan from Latham & Watkins in April 2023. Moylan arrived just as infrastructure PE specialists James MacArthur  and Ed Freeman left for Sidley Austin LLP .  On the M&A side Weil's team is also able to draw on the skills of former Slaughter and May partner Murray Cox. Meanwhile, on the finance side, the very experienced acquisition finance partner Paul Hibbert , who has worked with a number of well-known lenders on infrastructure transactions, heads the team.  Emma Serginson, who was promoted to partner at the start of 2023, is also noted for her experience on leveraged finance acquisitions in the sector. Kate McComiskey is also recommended.

Practice head(s):

Paul Hibbert; Brendan Moylan

Other key lawyers:

Murray Cox; Emma Serginson; Kate McComiskey


‘Fantastic firm that takes a client driven approach to services.’

‘Partners take a very active role in assignments, which gives a strong level of comfort.’

‘Paul Hibbert’s highly engaged team drive ideas and workstreams  and work seamlessly with the financial advisers. Great communication skills allow a highly efficient process which is extremely important in M&A situations.’

Key clients


AMP Capital (now known as InfraBridge)

Antin Infrastructure Partners

APG Asset Management

DWS Infrastructure

Fitzwalter Capital

Global Infrastructure Partners

Goldman Sachs Infrastructure Partners

iCON Infrastructure

Igneo Infrastructure Partners

Macquarie Asset Management

OMERS Infrastructure

Ontario Teachers’ Pension Plan


Smart City Infrastructure Fund

Wren House Infrastructure

Work highlights

  • Advised Macquarie Asset Management on the acquisition and financing of Roadchef from Antin Infrastructure Partners.
  • Advised APG Asset Management, the largest pension fund in the Netherlands, on the investment in SiFi Networks America Limited and the establishment of Future Fiber Networks LLC, a long term joint venture platform between APG and SiFi Networks.
  • Advised Wren House Infrastructure Management on the acquisition of Voyage Healthcare from Duke Street and Partners Group. This was Wren House Infrastructure’s first investment in the care sector.

White & Case LLP

White & Case LLP is heavily relied on by banks, corporates and funds to act on their largest and most critical infrastructure deals, boasting an impressive portfolio of multi-billion pound transactions across the globe. While traditional infrastructure and energy generation remain an important part of  the group’s steady stream of mandates, energy transition has quickly risen to the forefront of the deal agenda and the group has been active representing funds acquiring stakes in EV, fibre networks and data centre businesses. The firm also advises on transport-related matters.Team head Tim Sheddick is highly regarded for his transactional prowess, which extends across the full range of infrastructure and energy assets. Katie Hicks continues to impress in this sector, providing sponsors and financial providers with acquisition finance expertise that includes equity bridge, topco, holdco and senior financing. She is regularly supported by recently promoted partner Elizaveta Bazarova . Tom Pound, who was also promoted to partner this year, is active across a range of acquisitions, disposals, and joint ventures.

Practice head(s):

Tim Sheddick

Other key lawyers:

Katie Hicks; Elizaveta Bazarova; Tom Pound


‘Katie Hicks is one of the most commercially minded lawyers in the City. She has a deep understanding of borrowers’ needs and is excellent at creating sophisticated constructs which ensure they have the operational and financial flexibility to run their businesses in the most optimal way possible.’

‘Katie just gets it. She has an uncanny ability to identify issues and come up with smart solutions which help to get deals done.’

Key clients

Macquarie Asset Management



PGGM and DIF Capital Partners

Morgan Stanley Infrastructure Partners

A consortium comprised of AXA IM Alts, and Swiss Life Asset Managers and Morrison & Co.

Antin Infrastructure Partners


Work highlights

Bryan Cave Leighton Paisner

A popular choice for  international banks, funds and financial institutions, Bryan Cave Leighton Paisner‘s cross disciplinary team brings its experience to bear on a number of major projects and transactions, with significant experience in broadband infrastructure deals and transport infrastructure. The team has a wide exposure to a variety of renewable asset transactions. Practice head Mark Richards is widely recognised as the main driver behind the practice’s project finance offering while Jinal Shah fronts the group’s M&A and capital markets work. Shah has extensive experience pertaining to digital infrastructure and renewable energy assets, routinely working alongside Marie Johnson who finds herself acting on numerous infrastructure transactions, restructurings and joint ventures.

Practice head(s):

Mark Richards

Other key lawyers:

Jinal Shah; Marie Johnson

Key clients

National Grid



Equitix Infrastructure Investments Limited


Downing LLP

Guildmore Limited

AGR Renewables

Amber Infrastructure

Octopus Energy Hydrogen Limited

RAW Charging


Dentons is well known in the market for its expertise across the broadest ambit of the infrastructure market, with particular specialism in social infrastructure, renewable energy, transport and defence work. The firm supports longstanding clients on a number of high-profile PFI/PPP interests, with a deep bench of experience that allows the group to act on acquisitions, disposals and joint ventures. Team head Euan Wilson is a secondary market PFI/PPP transactions expert, working closely with funds, strategics and foreign public bodies on a number of cross-border deals, regularly working closely with fellow Edinburgh-based team-head Gareth Tenner , who has a similar skillset. Third group head and rail specialist Matthew Hanslip-Ward is a go-to adviser for a number of established transport entities, while Humphrey Douglas has a practice predominantly concentrated on major M&A mandates for oil and gas companies.

Practice head(s):

Gareth Tenner; Matthew Hanslip Ward; Euan Wilson

Other key lawyers:

Humphrey Douglas

Key clients

Her Majesty’s Government and the Official Receiver to Carillion plc


Sir Robert McAlpine

Morgan Sindall Investments

3i Infrastructure

Network Rail

Tfl (Transport for London)

Infrastructure Managers Limited

Dalmore Capital

Proserve Energy


Envac UK

Department for Education

Blue Transmission

Consort Healthcare (Edinburgh Royal Infirmary) Ltd

World Bank


Consort Healthcare (Durham) Limited

ISS Mediclean

Ministry of Defence

Consort Healthcare (Birmingham) Limited

Resolis Limited

Department for Transport

Work highlights

  • Advised Semperian on the purchase of 3 major toll road interests in Ireland from DIF
  • Advised Europe’s leading independent natural oil and gas company, Wintershall Dea, on its agreement for the expansion of their interest in the Algerian Reggane Nord gas project by originally acquiring Edison International’s entire 11.25% participating interest.
  • Advising AIM-listed UK-based oil exploration and production company Hurricane Energy plc on its proposed takeover by Prax Exploration & Productions plc, to be implemented by way of a scheme of arrangement.

Gibson, Dunn & Crutcher

A firm lauded by clients for being ‘commercial, proactive and dependable’, Gibson, Dunn & Crutcher's ‘dedicated and highly responsive‘ infrastructure team provides counsel to a number of blue-chip clients and major industry players on M&A, joint ventures and debt investments across a wide array of asset types. Digital infrastructure continues to be a strong area of focus for the group, with largescale tower deals forming part of an impressive portfolio of mandates over the past twelve months. Furthermore, the team has been highly involved in utilities work, most notably overseeing investments and disposals in water companies. The ‘efficient, hard working and well connected’ Federico Fruhbeck is singled out for his M&A work in Europe and Latin America, handling both soft and hard infrastructure transactions with an understanding of ESG concerns, while Robert Dixon is praised for his tower sector work. Alice Brogi has been highly active on a wide array of matters, from geothermal heating to electricity network acquisitions.

Practice head(s):

Federico Fruhbeck

Other key lawyers:

Robert Dixon; Alice Brogi


‘The entire infrastructure team at Gibson Dunn London is great. Federico Fruhbeck in particular is among the best M&A lawyers I have ever worked with – very commercial, efficient, hard working and well connected.’

‘The team are dedicated and highly responsive, as well as being pragmatic, friendly and solution orientated.’

‘Hands on, very commercial, proactive and dependable – Federico & Alice have built an excellent infra practice at Gibson Dunn’

‘The team is extremely client focused, very thorough in their work, very diverse and can work comprehensively across both diligence and documentation’

‘Alice Brogi stands out for her speed of execution, creativity and delivering the firm to the client. Federico Fruhbeck brings in experience, deep expertise and strategic thinking.’

‘Great team with up-to-date sector knowledge, great experience and the ability to deploy lawyers from other offices to provide a global approach.’

‘Rob Dixon is exceptional in the tower sector, combining legal firepower with commercial awareness to support fully the client’s objectives.’

‘Clear market leader in Infrastructure corporate M&A work. Deep technical as well as tactical expertise available, a strong partner bench and a willingness to go well above and beyond to support.’

Key clients


Asterion Industrial Partners

The Blackstone Group

Apollo Global Management

AXA Investment Managers

Helios Towers

Phoenix Tower International


Swiss Life Asset Management

H.R.L. Morrison & Co

Gowling WLG

The team at Gowling WLG are able to demonstrate roles on big-ticket deals within the infrastructure space as well as advising on mandates including private equity investments in hydrogen companies and developments. Gareth Baker leverages his experience as one of the founding members of Gowling’s hydrogen group to advise on this work, as well as showing expertise across the board of renewables and sustainable infrastructure work. Dominic Richardson is also recommended for his transactional expertise.

Other key lawyers:

Gareth Baker; Dominic Richardson

Key clients

Ministry of Defence

National Highways

Nuclear Decommissioning Authority group (including Magnox, LLWR, RWM…)

Department for Business, Energy and Industrial Strategy

Driver and Vehicle Licensing Agency

UK Health Security Agency

HM Revenue & Customs

Department of Health and Social Care

Foreign, Commonwealth and Development Office

East London Waste Authority

Surrey County Council

HydrogenOne Capital Growth plc

Cordiant Digital Infrastructure Limited

Shore Capital

J.P Morgan Cazenove

Numis Securities Limited

Jefferies International Limited

Downing Renewables & Infrastructure Trust plc

Foresight Sustainable Forestry Company plc

Winterflood Securities Limited

Work highlights

  • Advised the shareholders of FI1 Limited on the sale of their stake in the project companies that will construct and operate the first ever UK-Germany Transmission Link – the NeuConnect Interconnector Project (NeuConnect) – to TEPCO Power Grid (TEPCO PG).

Travers Smith LLP

Travers Smith LLP not only helms high-end transactions, but possesses a strong bench of advisers that competently handle the  specialist debt, regulatory and commercial aspects of the entire infrastructure and energy piece. The team has been involved in M&A, joint ventures and capital raisings pertaining to a wide range of asset types, with notable activity regarding renewables and social infrastructure. The highly experienced Spencer Summerfield  continues to be an active presence in the group, overseeing deals such as the acquisition of an emergency services business and the disposal of interests in infrastructure developers. Jonathan Walters  focuses on M&A transactions, working closely with funds and strategics on their infrastructure and energy acquisitions. On the debt side Ben Thompson advises lenders and sponsors on acquisition finance transactions. Hugh Hutchison, recently promoted to partner, is also recognised for his M&A proficiency.

Practice head(s):

Spencer Summerfield

Other key lawyers:

Jonathan Walters; Ben Thompson; Hugh Hutchison


‘The team have good embedded knowledge of our business preferences and our approach to risk and what we consider acceptable contract terms. Their strengths include focused, to the point, commercially aware advice with a good ability to put themselves into the client’s shoes.’

‘Always completely reliable. They achieve deadlines, and work within fee budgets.’

‘The Travers team has a huge depth of capable corporate lawyers.’

‘Spencer Summerfield is one of the best lawyers I have ever engaged- smart, practical and efficient.’

Key clients


Northleaf Capital Partners

Ancala Partners

Foresight Infrastructure

Daiwa Investments


Lifezone Metals


Wavenet Group

MPRC Europe

Alcazar Energy Partners

BUUK Infrastructure

Smart Meter Assets

Arjun Infrastructure Partners

Work highlights

  • Advising long-standing client Ancala Partners on the proposed €136.2 million acquisition of aerial emergency services businesses from Babcock International Group.
  • Advising a club of lenders on debt financing provided in connection with Arcus Infrastructure Partners’ acquisition of a c. 83% interest in Workdry International
  • Advising Instavolt, the electric vehicle charging business, on a joint venture with Climate Change Ventures (CCV) to improve the infrastructure of rapid EV chargers in the Iberian Peninsula.

Watson Farley & Williams LLP

Watson Farley & Williams LLP is active across the infrastructure and energy space. The team shows notable expertise in acquisitions, bid processes and debt financing regarding transport related mandates, as well as battery storage projects and renewable energy developments. Ryan Ayrton and Andy Savage co-head the practice, with the former highlighted for his range of acquisition financing work, and the latter for his strong transactional work involving social infrastructure. Christina Howard  handles a strong body of international mandates, advising investors and funds across a range of asset types, while Chris Kilburn, who heads the corporate department, specialises in energy work.

Practice head(s):

Ryan Ayrton; Andy Savage

Other key lawyers:

Christina Howard; Chris Kilburn


‘Watson Farley & Williams LLP is a very impressive firm, with outstanding knowledge and experience. We engaged Watson Farley & Williams LLP to assist on a complex M&A transaction..from day one they felt like part of the team and drove the transaction forwards from the front.’

‘I think a key attribute that sets Watson Farley & Williams LLP apart from the rest is their collaboration; a client isn’t just another number on a time sheet, they are a valued partner looking to achieve shared success.’

‘Strong offering which is able to leverage off a leading energy and infra practice. Advice goes beyond just M&A and the team have a real understanding of the underlying assets, how they work and where the value lies. I really appreciate being advised on M&A deals by an actual M&A lawyer rather than a projects lawyer who is desperately clinging on to the deal in order to meet the relevant partner metrics of a given firm.’

‘Andy Savage has a deep knowledge of infra and energy projects and can bring these to bear to the wider WFW team’

Key clients


TEPCO Renewable Power


Green Investment Group / Macquarie Asset Management

Banco Santander S.A.

HKZ Investor Holding B.V.

Sequoia Economic Infrastructure Fund

Nordea and SEB as lenders

The Republic of Guinea

Allied Irish Banks PLC, Barclays Bank PLC, Lloyds Bank PLC

and National Westminster Bank PLC

Wielton S.A.

Work highlights

  • Advising CREDITAS on its acquisition of InterGen Projects (UK) Limited and its UK business from InterGen’s parent company.
  • Advising TEPCO Renewable Power on its acquisition of Flotation Energy Limited, TEPCO’s first major offshore wind venture outside of Japan.
  • Advising Macquarie Asset Management’s Green Investment Group (“GIG”) on the sale of its 170 MW onshore windfarm portfolio held by Nordic Renewable Power Holding to Vauban Infrastructure Partners (“Vauban”).