Dentons has advised SCF Partners, a private equity firm focused on building energy services, equipment, and technology companies, on its strategic investment in AIM-listed Tekmar Group plc, a leading provider of technology and services for the global offshore energy markets.

The investment comprises an initial subscription for shares and the creation of a convertible loan note instrument to issue up to GBP18 million of convertible notes that SCF may subscribe for over up to three years. On admission, SCF will hold 32.6% of Tekmar’s capital. The investment required the approval of Tekmar’s Shareholders to waive the obligation for SCF to make a general offer under Rule 9 of the Takeover Code in cash for the Company’s Ordinary Shares.

Tekmar also conducted a share placing and retail offer alongside SCF Partners’ strategic investment.

Adam Kerr, Vice President at SCF Partners, “We are very pleased to have agreed terms with Tekmar and look forward to working with the team on our shared vision to transform Tekmar as an offshore wind services platform business with a global footprint, through both accelerated organic growth and acquisitions. Dentons provided invaluable support throughout the process and we are grateful to Neil and the team for their expert guidance.”

Neil Nicholson, head of UK Corporate at Dentons said, “We’re pleased to have the opportunity to support SCF Partners on its strategic investment in Tekmar in what was a technically complicated transaction.”

The Dentons team advising SCF Partners was led by Neil Nicholson, together with Corporate counsel Michael Snook, Corporate senior associate Simon Mitchell and Corporate associates Abby Dorani and Anna Clark.