National law firm Shoosmiths has advised Milton Keynes based Intelligent Maintenance Systems Limited (IMS) on a key strategic transaction with E.ON Connecting Energies Limited (ECT) which has seen the energy company take a 25% stake in the company.
Corporate partner Sanjeev Sharma led the Shoosmiths team with assistance from Iain Butler (senior associate), Claire Checketts (associate), Aleksandr Bosch (trainee solicitor) and James Grinstead (paralegal). The Shoosmiths' commercial team led by Sebastian Price and tax lawyers Tom Wilde and Jamie Chambers also advised on the transaction.
IMS develops and markets innovative machine-to-machine (M2M) solutions that collect operating data from customer devices ranging from refrigeration to air conditioning, and control the devices remotely. This makes it possible to optimise the operations, maintenance and repair processes for the devices and to control their performance in order to reduce energy costs.
ECT provides integrated energy-efficiency solutions for industrial and commercial customers and the public sector. ECT designs, finances, installs, and operates systems and equipment that deliver lasting reductions in energy consumption and provide on-site generation of electricity, heat, cooling, process steam, and/or compressed air.
Commenting on the deal, Frank Jones, CEO, IMS, said: 'Shoosmiths were outstanding. They provided first class legal advice and guidance to the company and the management team throughout the transaction. Quite simply, we would not have done the deal if it had not been for Sanjeev and the Shoosmiths team.'
Shoosmiths' Sanjeev Sharma added: 'We have thoroughly enjoyed working with IMS on what was an important deal for them. IMS has a fantastic management team and we wish IMS and its shareholders every success going forwards.'
Shoosmiths' corporate team was nationally placed second overall in Experian's 2014 UK Deal Review and Legal Advisor League Table. It was also named 'Law Firm of the Year' at the prestigious national M&A Awards in 2013 and was shortlisted again in 2014.