Taylor Wessing advises Environmental Technologies Fund on latest investment

Leading international law firm Taylor Wessing has advised Environmental Technologies Fund ('ETF') on the joint management buy-out of Tess Alliance Group Energy Solutions ('TAG').  ETF is a venture capital firm that specialises in high-growth opportunities in the Cleantech sectors. Private equity firm Platina Partners LLP, which specialises in renewable energy, led the buy-out.

TAG is the UK's first manufacturer of tubular foundation structures for offshore wind turbines - a growth industry as offshore wind in the North Sea looks poised to play a major part in Europe's alternative energy plans in coming years. Advances made by TAG to reduce the cost and enhance the manufacturing process to provide the amount of steel needed to construct offshore turbines will help ensure it remains at the heart of the new energy market. The re-developed Haverton Hill shipyard on the River Tees in Cleveland will have an initial capacity of 84,000 tonnes of steel per year, with scope for additional expansion. The facility will also create up to 400 jobs.

The Taylor Wessing Team advising ETF was led by Corporate Partner Simon Walker and Senior Associate Charles Fletcher. Walker says:

"We were delighted to undertake our first instruction for ETF in the UK.  It was a particularly interesting transaction to advise upon given the need to marry the requirements of a private equity fund with a venture capital fund."

Lawyers Charles Fletcher, Simon Walker

Notes to editors

For more information please contact Helen Needham Taylor Wessing:

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Taylor Wessing LLP is a leading international law firm providing support for commercial organisations doing business in Europe, the Middle East and China.