Leading law firm Birketts has secured a multi-million pound cash injection for Cornwall Insight. The additional funding will be used to accelerate the energy research and consultancy business plans for growth.
Cornwall Insight, which was founded in 2005 by Nigel Cornwall and is based in Norwich, has received a minority investment from BGF alongside a term loan facility from Barclays. The injection of capital will be used to move into new sectors and territories in Western Europe.
Birketts advised the company on all legal matters with Adrian Possener, Partner in Birketts’ Corporate and Commercial Team, leading on the transaction, assisted by Nikki Reid.
As part of the funding, Volker Beckers, former group chief executive of RWE Npower, has joined the board as non-executive chairman to help steer the business through the next stage of growth. Additionally, Nigel Cornwall will continue to advise the firm while also focusing on sister company Pixie Energy.
Cornwall Insight, Chief Executive Gareth Miller said: “By securing substantial additional capital we can accelerate our growth plans and reach our full potential. Adrian and the team at Birketts guided us through the process and it was a pleasure dealing with lawyers that provided clear legal advice.”
“I first met the management team at Cornwall Insight via The Future50 initiative and have seen them go from strength-to-strength, establishing a strong local business with a national footprint. I am delighted that we were able to play our part in securing additional capital for this Norwich-based success story,” said Adrian Possener.