Dentons advised SCF Partners on strategic investment in Tekmar Group

Dentons advised SCF Partners on strategic investment in Tekmar Group

The investment comprises an initial subscription for shares and the creation of a convertible loan note instrument

Dentons has advised SCF Partners, a private equity firm focused on building energy services, equipment, and technology companies, on its strategic investment in AIM-listed Tekmar Group, a leading provider of technology and services for the global offshore energy markets.

The investment comprises an initial subscription for shares and the creation of a convertible loan note instrument to issue up to GBP18 million of convertible notes that SCF may subscribe for over three years.

On the development, Adam Kerr, the vice president at SCF Partners commented, “We are very pleased to have agreed on the terms with Tekmar and look forward to working with the team on our shared vision to transform Tekmar as an offshore wind services platform business with a global footprint, through both accelerated organic growth and acquisitions. Dentons provided invaluable support throughout the process and we are grateful to Nicholson and the team for their expert guidance.”

Neil Nicholson, the head of UK Corporate at Dentons said, "We are pleased to have the opportunity to support SCF Partners on its strategic investment in Tekmar in what was a technically complicated transaction."

SCF will hold 32.6 percent of Tekmar's capital. The investment required Tekmar’s shareholders’ approval to waive the obligation and make an offer under Rule 9 of the Takeover Code in cash for ordinary shares of the company.

Tekmar conducted a share placing and retail offer alongside SCF Partners’ strategic investment.

The Dentons team advising SCF Partners was led by Neil Nicholson, along with the corporate counsel Michael Snook, corporate senior associate Simon Mitchell and corporate associates Abby Dorani and Anna Clark.