Mayer Brown advises Oxford Catalysts Group PLC on their US$35 million acquisition of Velocys, Inc
2 December 2008
2 December 2008 - Leading international law firm Mayer Brown has advised Oxford Catalysts Group PLC on their acquisition of Velocys, Inc, the leading designer and developer of microchannel process technology for the production of synthetic fuels and commodity chemicals.
AIM listed Oxford Catalysts Group PLC, a catalyst innovator for clean fuels, has agreed to acquire Velcoys, Inc from Battelle Memorial Institute for consideration of US$35 million (approx. £21.4 million). The size of Velocys, Inc. meant that this acquisition was a reverse takeover under the AIM Rules for Companies.
Mayer Brown Partner Robert Hamill said: “The strategic combination of these two innovative technology companies is a key development in renewable energy. This transaction showcases our strong transatlantic capital markets, M&A and US securities capabilities in London whilst reflecting our strong energy industry focus.”
Roy Lipski, Chief Executive of Oxford Catalysts, said: “We are delighted to have managed to complete the acquisition against the backdrop of fierce market conditions and are very grateful for the support and help from Mayer Brown in ensuring a successful transaction.”
The Mayer Brown team working on this deal included partners Robert Hamill, Paul de Bernier, Andrew Stanger, Sarah Byrt and James Hill and assistants Michelle Wyatt, Rebecca Bothamley, Paul Olivera and Linda Lee.
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