ALG advises SHV Energy on sale of Balcas
Our Belfast office has advised SHV Energy on the sale of Co Fermanagh-based timber business Balcas to Glennon Brothers, subject to approval from competition regulators.
The ALG transaction team was led by Corporate partners Peter Stafford and David Rowan.
Part of SHV Holdings, Netherlands-headquartered SHV Energy specialises in efficient and safe distribution of energy sources, with market-leading energy companies across the Americas, Asia and Europe. Since October 2007, it has been the largest shareholder in timber and renewable energy business Balcas, which has operations in Co Fermanagh and Invergordon in Scotland.
The acquisition of Balcas will expand Glennon Brothers’ reach into renewable energy, wood pellet production for fuel and products such as fencepost.
Commenting on the sale, Balcas Chief Executive Brian Murphy said "We are excited to be joining Glennon Brothers, a business with a deep-rooted history in the timber processing sector and values aligned to our own."
Partner Peter Stafford commented "We are proud to have worked with SHV Energy on its sale of Balcas. Our cross-departmental team comprised lawyers from our Belfast and Dublin offices, with great support on Scottish law matters from Ledingham Chalmers' Aberdeen office. Congratulations to all involved”
Date published: 21 May 2021