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Square One Law Advises Utilitywise PLC on the Acquisition of t-mac Technologies Limited

Newcastle-based commercial law firm, Square One Law has advised Utilitywise plc on the acquisition of t-mac Technologies Limited, a leading supplier of energy management and monitoring solutions.

Utilitywise is a leading utility cost management consultancy offering energy procurement and energy management products and services to its business customers throughout the UK.

The acquisition will add t-mac’s portfolio of integrated services to Utilitywise’s core energy services offering and will enable Utilitywise’s customers to both monitor and reduce their energy consumption and ultimately improve their environmental performance.

The purchase price for the transaction comprises an initial consideration of £10 million payable in cash and shares in Utilitywise and deferred consideration of up to £12 million payable in the first two years following completion subject to t-mac satisfying certain financial performance criteria.

The cash consideration element of the transaction was satisfied by Utilitywise taking out of a £25 million revolving credit facility with The Royal Bank of Scotland plc which Square One Law also advised Utilitywise on alongside the acquisition.

Geoff Thompson, CEO of Utilitywise, comments: “We are once again extremely pleased with the support we received from James and the rest of the team at Square One Law, particularly given the time constraints in ensuring that the acquisition and the new banking facilities completed at the same time.”

James Bryce, Corporate Partner who led the team at Square One Law, commented: “We have worked with Utilitywise on a number of deals now and it is very rewarding to support them in their continued growth and we look forward to seeing the impact of this acquisition on Utilitywise going forward.”

The Square One Law deal team consisted of James Bryce and Jemil Visram (Corporate), Mark Lazenby (Banking), Malcolm Wood (Property) and Lucy Bailey (Employment).

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