LG advises on £180 million waste facility
20 October 2005
LG has advised Grundon Waste Management ("Grundon") – half of joint venture Lakeside Energy from Waste Ltd ("Lakeside") and the UK's largest privately owned waste management company – on its £180 million project to develop an energy from waste facility at Colnbrook, near Slough, which has successfully reached financial close.
Grundon's initial scheme for this new facility will now be realised through Lakeside, a company originally established by Grundon and which recently became a joint venture between Grundon and Viridor Waste Management ("Viridor"), another leading waste management company. Lakeside will build and operate the energy from waste plant, with commissioning scheduled for mid 2008.
Louise Gowman, partner at Lawrence Graham LLP, advised Grundon on all aspects of the energy from waste project, including the joint venture arrangements. The LG team included Frances Reynolds and Stewart Scott (advising on property matters) and Geoff Gouriet (joint venture arrangements), with critical assistance in the closing stages of the project finance from partner Richard Elphick and John Nystrom.
Louise Gowman comments: "I have been working with Grundon and Lakeside for quite some time putting together the various and complex elements of this project. That is has reached such a successful conclusion is a great testament to what can be achieved by an entrepreneurial family-owned business such as Grundon with vision, commitment and persistence."
Other advisers on the project included Allen & Overy, acting for lead arranger Bank of Ireland and Manches, advising Lakeside on construction-related issues. Viridor was represented by in-house counsel.
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Louise Gowman
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