Travers Smith LLP has advised social enterprise Social and Sustainable Capital (SASC) on its acquisition of Leapfrog Bridge Finance (LBF) from low carbon innovator, Pure Leapfrog, and on amendments to its banking facilities.
SASC provides simple finance for outstanding charities and social enterprises so that they are better able to tackle society’s most pressing challenges as measured by the UN’s Sustainable Development Goals. Having long championed community energy initiatives, SASC has financed several UK community energy projects in recent years and this acquisition will enable it to build on its work in this important sector. SASC will continue to work with all LBF’s current and prospective clients and focus on growing its portfolio of social and sustainable renewable energy projects.
The Travers Smith team was led by Partner Sam Kay with support from Associate Natacha Öz. The wider team included Private Equity & Financial Sponsors Senior Counsel Joanna Roberts and Associate Kapish Jitendra Davé, and Finance Senior Counsel Jamie Parish and Associate Fiona Cantlay.
Ben Rick, co-founder and CEO of SASC commented "We are delighted to expand our presence in the UK renewable energy market with the acquisition of LBF, a leading investor in the sector. We are grateful for the continuing support of Travers Smith whose own commitment to creating a sustainable business made the team a valuable partner on this acquisition."
Partner Sam Kay added "Sustainability is high on the agenda for many of our clients as the need for meaningful change becomes increasingly urgent. Climate change affects us all and we are pleased to have worked with SASC on this acquisition that will enable it to further support low carbon initiatives."
Sustainability lies at the heart of Travers Smith's own business proposition, and you can find out more about our sustainable business objectives here.