Global law firm White & Case LLP has advised the founders of N+P Group B.V. on their partnership with Mercuria Energy Trading.
"Our role advising N+P Group on this important transaction is a great example of how White & Case supports fast growth companies as they progress their ambitious growth targets," said White & Case partner Ian Bagshaw, who led the transaction.
The deal consists of Mercuria acquiring a significant equity stake in N+P and the injection of significant additional growth capital into the company, to allow for the development of a number of new Subcoal production facilities. The Jennissen Family will continue to hold the majority of the shares in N+P, while allowing for Mercuria's stake to be increased in the near-term.
Founded in 1993, N+P is an internationally recognized and certified service provider in recycling and has focused on decarbonizing the production processes of large energy-consuming industries globally. N+P uses non-recyclable waste fractions that would otherwise be landfilled or incinerated as feedstock to produce alternative fuels. By switching to fuels produced by N+P, these industries can not only reduce their costs prices, but also benefit from significant CO2 savings and contribute to landfill diversion. It also provides various industries with new incentives on how to best reduce their carbon footprint.
Over the next five years, N+P intends to significantly increase the number of production plants, including global expansion catalysed via synergies with Mercuria's global trading platform. N+P expects to announce the development of the first new plants in the coming months. In parallel to a rapid expansion of alternative fuel production facilities, N+P is also aiming to grow the legacy business of bridging waste to value: waste to energy feedstock trading and development and supply of alternative raw materials, in which the Jennissen family has almost 30 years of experience.
Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world, bringing efficiency to the commodity value chain with cutting-edge technology and unmatched expertise and solutions. Mercuria's business includes trading flows, strategic assets and structuring activities that generate more than US$120 billion in turnover. It operates from offices around the world, with a strong presence in the Americas, Asia and Europe.
The White & Case team in London was led by partner Ian Bagshaw and included partners Nicola Chapman and Will Smith and associates James Richards, Anna Rawlence, James Charteris-Black, Sylvana Lee and Lily Teh.
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