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Michelmores has advised the shareholders of Action Sustainability, a leading tech-enabled sustainability business in the construction sector, on an investment from ScaleUp Capital (ScaleUp). Michelmores worked alongside Grant Thornton’s Corporate Finance team on this transaction to bring the deal to a successful completion. This was one of 17 deals which the Michelmores Corporate team successfully advised on in the 48 hours before the October Budget announcement, with a combined value of over £150m.
Action Sustainability partner with leading organisations in the construction sector, providing collaboration tools, e-learning, software and consulting services.
Founded in 2002, ScaleUp invest in established, growing companies and provide dedicated resource, expert support, and capital to accelerate their growth, helping them scale to the next level. The investment by ScaleUp will assist the Action Sustainability business with its next phase of growth, with ScaleUp becoming a partner who will help Action Sustainability grow and realise its potential and ambition.
The Michelmores team advising on the deal was led by Partner Richard Cobb, alongside Senior Associate Chris Smedley and Solicitor Gruff Cartwright, all from the Firm’s Corporate team. Partner David Thompson provided advice from the Firm’s Commercial team, Partner Cathy Bryant and Senior Associate Anthony Reeves advised from a Tax perspective, and Associate Henry Cross provided Employment advice.
Chris Smedley comments:
“Ian and the team have built an excellent business over the past 14 years and the partnership with ScaleUp will allow the company to continue its growth in the years to come. Michelmores’ 2030 strategy is based on helping clients navigate change for a positive future, with significant impact delivery being a key strategic goal. Action Sustainability is leading the way in this regard, so it has been a pleasure working alongside the shareholders and the company over the past months to assist them in achieving their aims.”
Ian Heptonstall, CEO of Action Sustainability, adds:
“This was my first deal of this nature and for any founder in a similar position I’d recommend them not to underestimate the need for having a commercially focused and responsive legal team with the breadth of knowledge and expertise to deal with the amount of legal matters that are involved in such deals. The Michelmores team were impressive throughout this transaction; their advice was practical and commercial in nature and each of their team was conscious of what we were trying to achieve, rather than getting lost in the details of legalities.”
Completion of the Action Sustainability investment from ScaleUp was one of 17 transactions (with a combined value in excess of £150m) advised on by the Michelmores Corporate team that completed in the 48 hours before the October Budget. Read more about Michelmores’ unique Corporate offering here.
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