Cleaver Fulton Rankin advises InfraStrata on the acquisition of Harland and WolffDecember 5, 2019
Cleaver Fulton Rankin has played an integral role in the acquisition of Harland and Wolff Industries by London-based energy firm, InfraStrata.
Since its Norwegian parent company collapsed, Harland and Wolff went into administration in August.
After more than two months of intensive negotiations, InfraStrata today acquired the business and assets of Harland and Wolff Industries Ltd from administrator BDO Northern Ireland, safeguarding the future of the site, as well as the jobs of more than 70 employees.
The acquisition will enable InfraStrata to bring in-house, a large part of the engineering and fabrication requirements for its Islandmagee Gas Storage Project and proposed floating storage and regasification project.
Acting for InfraStrata on this landmark acquisition, Cleaver Fulton Rankin’s Commercial Real Estate Director, Joe Marley, commented, “As a Belfast based law firm we are delighted to have been involved in the successful acquisition of Harland & Wolff.”
The purchase is testament to InfraStrata’s strategic approach to their future development and growth of its business. The acquisition is not only important for our client, but also for the Harland and Wolff shipyard, a focal point of Northern Ireland’s shipyard industry.”
“Our involvement in this important acquisition, illustrates the quality and expertise of the Commercial Real Estate and Banking teams at Cleaver Fulton Rankin. We have recently been involved in many other noteworthy transactions, and have significant expertise in providing practical legal solutions to facilitate successful deals.”