Hamilton Locke and Pollination acted for Climate Friendly and its shareholders on the company’s acquisition by Australian private equity firm Adamantem Capital.
The deal is an important transaction in Australia’s carbon sector. The business partners with farmers, foresters, and traditional custodians – with land spanning 10 million hectares – to create carbon credits through a range of scientific methods, which can be sold through the government’s Emissions Reduction Fund or traded on the voluntary carbon market to bring in a regular income. Climate Friendly has delivered over 20 million tonnes of carbon abatement by the close of 2020.
Hamilton Locke acted as legal advisors, and global climate change advisory and investment firm Pollination acted as sell side financial advisors in the transaction.
Commenting on the transaction, Hamilton Locke partner James Delesclefs said: “We are delighted to have been involved on the journey right through the auction process to this fantastic outcome between parties each with such strong convictions and expertise in carbon abatement. Sustainability is a key focus for us as a firm, with this complex and cutting edge transaction showcasing the opportunity for real progress in tackling climate change when markets, technology and policy come together. We very much look forward to following closely Climate Friendly’s progress in this new phase of ownership.”
Martijn Wilder AM, co-founding Partner of Pollination said: “This investment further demonstrates the maturity of the carbon market, and the critical role that carbon assets will play in decarbonising the economy.”
The corporate team at Hamilton Locke was led by partner James Delesclefs and included senior associate Sarah Chen, lawyer Michael Jefferies, and graduate Beatrice Drumore, supported by a multi-disciplinary team from Hamilton Locke’s Finance, Litigation and Employment practices.
The advisory team at Pollination was led by Co-founding Partner Martijn Wilder AM, and included Executive Director Victoria Adams, Associate Sam Jarrett, Associate Kim McLoghry.