Pinsent Masons advises VIOTAS founders on Bord na Móna management buyout

08 Dec 2023 | 03:53 pm | 1 min. read

Multinational law firm Pinsent Masons has advised VIOTAS founders Paddy Finn and Duncan O'Toole on the management buyout of Bord na Móna's 50% share in the company

VIOTAS is headquartered in Limerick, Ireland and operates in Ireland, Poland, USA, Australia and New Zealand.  The company helps large businesses generate additional revenue and achieve their sustainability goals through smart electricity management and demand response services.  Bord na Móna is an Irish, semi-state climate solutions company and first invested in VIOTAS in 2016 as part of a strategic commitment to support rising green innovators and businesses pioneering climate action solutions.

The transaction, which was funded by Goodbody Capital Partners on behalf of AIB, will strategically position VIOTAS for significant growth internationally and provide Bord na Móna with a substantial return on its original investment.

The Pinsent Masons team acting for VIOTAS was led by partners Garrett Monaghan and Neil Keenan.

Commenting on the deal Garrett Monaghan said: "VIOTAS is a recognised international pioneer in the exciting and emerging demand response markets.  They are far more than an energy market participant – they are taking the energy market into new areas though the specific products and technology they originate. Likewise, we are recognised as a leading innovative law firm and thrive in supporting clients like VIOTAS across core areas of energy, tech and corporate.

The VIOTAS MBO will enable Paddy and Duncan to set and achieve its goals including driving its impressive domestic and international growth to date. We have worked with Paddy and Duncan for many years and are pleased to have advised them on such a significant milestone in their business journey.”

Chief Executive Officer of VIOTAS Paddy Finn said: “Garrett, Neil, and the wider Pinsent Masons team influenced the outcomes we achieved from this deal in ways we couldn't have envisaged at the outset of our engagement. This was a particularly lengthy process with complex challenges to navigate, but the Pinsent Masons team remained relentless in their commitment to safeguarding our interests throughout, bringing a keen focus on commerciality together with strategic negotiation and attention to details across multiple inter-related points to deliver the outcomes we wanted. We have worked with Garrett since starting our business and have repeatedly relied upon him and the Pinsent Masons team for support on regulatory, energy, and commercial matters.”

Pinsent Masons is a leading legal adviser across the global energy sector, covering a wide range of commercial, industry and legal disciplines.  In Ireland, the firm is at the forefront of generation, construction and financing across solar, onshore and offshore wind and hydrogen.

 

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