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Recent Updates

  • Amberside 8:55 am on November 29, 2019  

    Richard Turner appointed as a board director of Amberside Advisors Ltd 

    Amberside Advisors Ltd is pleased to announce the appointment of Richard Turner as a board director.

    Richard has 25 years of experience advising on, lending to and investing in infrastructure projects. His appointment to the board follows a successful period in the role of Head of Infrastructure where he led the practice’s structuring and finance-raising advisory mandates, including:

    • leading a number of refinancing transactions across the renewables and infrastructure sectors
    • securing £100m, out of an available total of £500m, of low-cost infrastructure loans from HM Treasury for a replacement energy recovery facility in London
    • supporting Central Government through two rounds of applications for investment in Heat Networks
    • advising OfGEM on implementing the “competition proxy” model as the reward mechanism to National Grid for developing new separable high value transmission assets to Hinkley Point C new nuclear facility.

    Since Richard joined in January 2018, Amberside has grown to 40 professional staff and completed nearly 300 mandates across a variety of industry sectors, including renewables, transport and healthcare, with a total value of £4.5bn.

    Paul Austin commented: “I am delighted to confirm the appointment earlier this month of Richard Turner as director of Amberside Advisors. On joining the firm, Richard’s knowledge and expertise enhanced our growing advisory practice; looking to the future, his strategic leadership skills at Board level will help Amberside achieve its goal of becoming the ‘go to’ advisory firm.”

    Richard was previously a project finance banker firstly at Dresdner Kleinwort Benson and then NM Rothschild, where he advised on and arranged debt for a number of significant infrastructure projects.

    More recently, Richard led project and export finance for a major infrastructure contractor, where he successfully bid and financially closed 35 projects both domestically and internationally, raising £6bn of debt and investing £250m of equity. In that role, Richard led a number of significant project financings across a wide range of sectors, and also managed a key relationship with UK Export Finance (the UK export credit agency) where he supported the company in raising approx. US$1bn of export finance for construction projects.

     
  • Amberside 11:36 am on November 7, 2019  

    NLWA earns favourable borrowing deal for £100m funding of vital community assets 

    Neil Rutledge, Director at Amberside Advisors Ltd and lead Financial Advisor to North London Waste Authority, commented:

    “We are delighted to have secured the maximum amount available from HM Treasury for this highly eligible Local Infrastructure project. It was in our mind, when the bidding window opened on 1st Jan 2019, that widespread use of prudential borrowing by other local authorities might crowd out more essential infrastructure and elicit a reaction from HM Treasury which, if not addressed, could harm the project’s prospects. Our client, North London Waste Authority, agreed. When a month ago, HM Treasury duly sought to put the brakes on more general borrowing, by adding 1% to the margin over gilts paid by Local Authorities, our foresight in pursuing this funding source became clear. That we have secured £100m at a cost of Gilts plus 60bp for our client represents a strong start to a more comprehensive funding programme we are now putting in place.”

    Today North London Waste Authority (NLWA) announces the successful outcome of a competitive bid to borrow £100m from the government at a reduced interest rate. The money will be used to finance the Authority’s flagship infrastructure project to replace its existing Energy from Waste plant with a new Energy Recovery Facility in Edmonton, north London.

    The successful application to borrow £100m at a reduced borrowing rate of 1.7% interest instead of the usual 2.9% is just one of the Authority’s actions to deliver the North London Heat and Power Project (NLHPP) at the lowest possible cost for the residents of north London

    The award for this nationally significant infrastructure project further highlights the NLHPP as a vital piece of waste management and energy infrastructure with strong benefits for the environment and society. It will help NLWA to build long-term capacity for London’s non-recyclable waste and in so doing, also make a positive contribution to addressing the Climate Emergency. As a result of the lower rate borrowing available the Authority can now continue to make rapid progress on delivering the project, particularly the most capital intensive stages of the work.

    The assessment criteria for this award included an evaluation of the environmental and societal benefits the NLHPP will provide, such as:
    • Carbon Dioxide (CO2) saving when treating non-recyclable waste in an Energy Recovery Facility
    • Improved air quality and other environmental benefits
    • Over 2,500 employment opportunities during construction and operation, as well as
    • Over 100 apprentices and 225 onsite skills training opportunities for the local community.

    The scheme will see the modernising of Edmonton EcoPark to replace the 50-year-old Energy from Waste plant with a world-class Energy Recovery Facility and flagship Resource Recovery Facility which includes a brand-new Reuse and Recycling Centre open to the public. Part of the project incorporates a new education and community centre called EcoPark House, which will help local people learn about the circular economy values of reducing, reusing and recycling their waste, and in doing so reduce their impact of the environment.

    The NLHPP represents the most cost-effective and sustainable way to treat non-recyclable waste in north London over the coming decades and forms a key part of NLWA’s strategy to increase recycling rates to 50% and encourage waste prevention amongst residents.

    In the context of the Climate Emergency, the NLHPP is part of the solution for moving towards a Net Zero carbon economy, consistent with recommendations from the Committee for Climate Change.

    For more information, please contact Trudi Axtens, North London Heat and Power Project Communications Manager, on 020 8489 3940 or Trudi.Axtens@nlwa.gov.uk

     
  • Amberside 12:14 pm on May 9, 2019  

    Amberside supports Bio Capital with acquisition of anaerobic digestion plant at Granville Eco Park 

    Leading corporate finance practice to the infrastructure and energy sectors, Amberside Advisors Ltd, have supported Bio Capital with the acquisition of the Granville Eco Park project on 8 May 2019.

    Neil Rutledge, director of Amberside Advisors Ltd, commented: “Amberside Advisors Ltd is delighted to have advised Bio Capital throughout the acquisition of another significant asset to their growing Anaerobic Digestion portfolio.”

    Ross Cooper, director of Bio Capital, said: “We engaged Amberside to provide us with acquisition support of a large-scale anaerobic digestion plant in Northern Ireland. The transaction was very delicate, and the deal evolved rapidly throughout several periods of commercial negotiation. Amberside were able to navigate through the complexity of the transaction and model challenging financial concepts to give us confidence in the asset’s valuation. They were able to understand the key issues that arose and identified matters that supported our interest.”

    Granville Eco Park (GECO):
    • Acquired under the Bio Capital platform, a joint venture between Equitix, Aurium and Helios.
    • An Enhanced Anaerobic Digestion Facility based in Dungannon, Northern Ireland.
    • GECO treats over 80,000 tons of biowaste per annum producing over 60,000 MWh per year in the process.
    • It was the first AD plant in the UK to achieve certification under the Anaerobic Digestion Certification Scheme (ADCS), recognising good working practices in operational, environmental and health & safety performance

     
  • Amberside 11:57 am on April 11, 2019  

    Amberside supports Gresham House in completion of their UK wind farm refinancing 

    On 2 April 2019 Amberside Advisors assisted Gresham House in closing the refinancing of the Wathegar 2 wind project.

    Amberside Advisors acted as financial modelling advisors to the sponsor, Gresham House – a specialist alternative asset manager – to reach financial close.

    Wathegar 2 is a wind farm based in Bilbster, Wick, UK. The project has a capacity of 18.45MW comprising nine 2.05MW turbines.

     
  • Amberside 2:39 pm on March 22, 2019  

    Amberside Advisors proud to support award-winning ‘Wales & Borders’ project 

    Amberside Advisors are proud to have supported SMBC and Equitix Ltd as financial model advisors on the award-winning Wales and Borders rolling stock project. Congratulations to all involved for their hard work and an amazing achievement!

    Winners in the European transaction category (IJ Global Awards 2018):
    Rail – Wales & Borders

     
  • Amberside 12:23 pm on March 19, 2019  

    Amberside welcomes back Viet Nguyen as Senior Manager 

    The team at Amberside Advisors is very pleased to welcome back Viet Nguyen as Senior Manager. Viet left Amberside in 2015 to pursue his career at Qila Energy – an anaerobic digestion developer. Now returning as part of our strong management team, he will be bringing his additional experience in project finance management to Amberside’s clients to help build on all our successes. He has also just returned from paternity leave after welcoming his newborn daughter – a future Amberside recruit perhaps?

    His extensive 14 years experience includes 8 years direct experience within industry covering the anaerobic digestion and waste to energy sectors. Viet also has 6 years experience working in advisory undertaking roles covering refinancing, model audit, bid, operational and acquisition for a range of infrastructure project types.

    We are extremely pleased to have someone of Viet’s quality further boost our management team as we continue to expand our proposition as a mature, full-service financial advisory consultancy firm to the renewables and infrastructure sector.

    Viet’s appointment will bring our consultancy up to almost 40 professionals.

    Viet Nguyen

    If you are interested in joining our team, please email your CV to debra.secunda@amberside.uk

     
  • Amberside 2:34 pm on February 5, 2019  

    Amberside leads on delivery partner engagement with investors for Heat Networks Investment Project – applications now open 

    Amberside Advisors is leading on delivery partner engagement with investors for Heat Networks Investment Project (HNIP) to lever in £1bn of future investment into the heat networks sector. For full details: https://bit.ly/2WFg2ls

    HNIP opens for applications from today – 5 February 2019. The HNIP Application Guidance and key information about the scheme can be found here: tp-heatnetworks.org

     
  • Amberside 5:46 pm on January 10, 2019  

    Liverpool based social business kicks off the new year with £800,000 secured investment 

    CAPACITY: THE PUBLIC SERVICES LAB WAS CO-FOUNDED BY AMBERSIDE ADVISORS

     

    There’s cause for celebration as Capacity: The Public Services Lab enters its third year with £800,000 of investment secured from social investors Big Society Capital. The additional investment signifies clear intent from Big Society Capital who initially backed the organisation following its success in the Business Impact Challenge in 2015.

    Christine Chang, Deputy Chief Investment Officer, Big Society Capital, commented:

    In a short space of time, we have seen Capacity: The Public Services Lab go from strength to strength. Since our first investment in early 2017 Capacity has begun to make progress in altering perceptions of the way public services should be delivered. Capacity is building the credibility of the voluntary, community and social enterprise sector as providers of public services with social investment. We look forward to seeing the outcomes from the next stage of their development.”

    Founded by partners Catch 22, Interserve PLC, Big Society Capital and Amberside Advisors, Capacity: The Public Services Lab exists to help community-based organisations to deliver public services which provide freedom to frontline workers, bringing together the best of the private, public and charity sector to produce better outcomes for communities.

    The organisation will use the funding to expand incubator and accelerator services for community organisations. It will give them the flexibility to recruit staffing resource ahead of growth and to invest in joint venture partnerships with social enterprises and charities.

    Capacity Chief Executive, Chris Catterall said, “I am delighted we have successfully navigated our initial start-up period and that Big Society Capital has agreed to support us during the next stage of our development. Since its inception, Capacity has secured £38m of contracted income and investment for charities and social enterprises and this additional investment from Big Society Capital will allow us to continue to do that at scale.”

    He continues, “Capacity will continue to help community organisations to secure funding and help reform public services, through our recently awarded contract with Wirral Metropolitan Borough Council to re-design Childrens’ Services Early Help and our work with GPs re-imagining and re-organising primary care on Merseyside.”

    Notes:

    About Amberside Advisors

    Amberside Advisors Ltd are one of the founding members of Capacity. AAL is a corporate finance practice with a track record in advising projects that involve public, private and third sector bodies. Amberside are represented on the Board of Capacity by Neil Rutledge FCA.

    http://www.amberside.uk

     

    About Big Society Capital

    Big Society Capital improves the lives of people in the UK by connecting social investment to charities and social enterprises. We know that investment can help charities and social enterprises achieve more. We believe the greatest chance to improve lives comes when investors and enterprises are both motivated by social mission.

    We engage with investors, fund managers, charities and social enterprises to make it easier to use social investment. With our co-investors, we have made over £1.3 billion of new capital available to organisations with a social mission, through investments into fund managers and social banks. We have a special focus on: providing homes for people in need; strengthening communities; and early action to prevent problems.

    http://www.bigsocietycapital.com

     

    About Catch22

    Catch22 is a social business, a not for profit business with a social mission. For over 200 years we have designed and delivered services that build resilience and aspiration in people and communities.

    Our 1600 colleagues work at every stage of the social welfare cycle, supporting 44,000 individuals from cradle to career. Today we deliver children’s social care, alternative education, apprenticeships and employability programmes, justice and rehabilitation services (in prisons and in the community), gangs intervention work, emotional wellbeing and substance misuse programmes.

    http://www.catch-22.org.uk

     

    About Interserve

    Interserve is one of the world’s foremost support services and construction companies. Our vision is to redefine the future for people and places. Everything we do is shaped by our core values. We are a successful, growing, international business: a leader in innovative and sustainable outcomes for our clients and a great place to work for our people. We offer advice, design, construction, equipment, facilities management and frontline public services. We are headquartered in the UK and listed in the FTSE. We have gross revenues of £3.7 billion and a workforce of circa 80,000 people worldwide.

    http://www.interserve.com

     
  • Amberside 1:22 pm on December 18, 2018  

    Equitix and Iona Capital co-fund Bridgwater Energy from Waste project 

    (28 November 2018) Equitix, a leading UK infrastructure investor, and Iona Capital, the specialist environmental investment and fund management firm, announce the acquisition of a £72 million Energy from Waste (“EfW”) facility in Bridgwater, Somerset.

    The 7.75MW Resource Recovery facility will employ up to 25 full-time operational staff and process approximately 100,000 tonnes of commercial and municipal refuse derived fuel (“RDF”) per annum, which would otherwise have been destined for landfill. Construction will commence in Q1 2019 and the facility will begin commercial operation in 2021.

    The project will be delivered under a turnkey design and build contract with STC Power SRL (“STC Power”), a specialist in the supply of small-scale thermal energy plants having delivered 20 facilities since 2001. Pinnacle Power Limited (“Pinnacle Power”) has been appointed as the Operations and Maintenance Contractor. Pinnacle Power is part of the Pinnacle Group and is a provider of construction and operations services for district heat and power projects in the UK. Waste will be supplied by Geminor UK Limited (“Geminor”), a leading exporter and supply of Refuse Derived Fuel (“RDF”), under a long-term waste supply contract.

    Geoff Jackson, Chief Executive Officer of Equitix, said: “This new project marks the latest addition to our growing waste portfolio. This is a sector that we see huge opportunities in and are very excited to be working with our partners, Iona Capital, in developing this top-quality, high-impact facility.”

    Nick Ross, director and co-founder of Iona Capital said: “We are very pleased to partner Equitix in the financing of the Bridgwater project which is the first of a number of planned investments in the EfW sector.”

    Amberside Advisors acted as financial modelling advisors and WSP as technical advisors to the consortium.

     
  • Amberside 12:36 pm on December 11, 2018  

    Sterling Suffolk Ltd names Jane Evans its new Managing Director 

    Jane Evans has today (11 Dec 2018) been appointed Managing Director of Sterling Suffolk Limited (“SSL”). SSL operates the Blakenham Nursery, at Bramford, Suffolk. Jane joined the SSL Board in April 2015 and has been extensively involved in the development of the business since its inception. She has a degree in Biochemistry from Manchester University and qualified as a Chartered Accountant at Peat Marwick, now KPMG. Jane worked at KPMG for twenty one years, moving early in her career from audit to corporate finance where, as a Director, she led project finance teams advising on major infrastructure projects. She subsequently moved to Navigant Consulting and then to Wates, the construction company. In 2013 she left the corporate world and, with a colleague, manages a business and a charity, running team building and leadership training workshops.

    Jane lives in London and Suffolk. She has a partner, Chris and a son, Max who is 16.

    David Scrivens of Amberside Capital, and a fellow Board Director at SSL, said: “Jane has made a valuable contribution to the Board, and, with her appointment as Managing Director, we are building the management team to take the business forward as we move into commercial operations at the Blakenham Nursery site, and look forward to the further development phases.”

    Sterling Suffolk Limited has built and will operate a hydroponics glasshouse the size of 11 football pitches at Bramford in Suffolk. The first crop of tomatoes will be planted this month with the inaugural harvest due in February 2019.

    Hydroponics is a subset of hydroculture, which is a method of growing plants without soil using mineral nutrient solutions as a water solvent in a neutral growing media. When fully developed, the establishment of this major project will help bring more than 150 new, local jobs to the area and provide locally-grown tomatoes for the UK market all year round.

    The Hemel Hempstead based Amberside Group in Hertfordshire, comprising Amberside Capital, Amberside Advisors and Amberside Energy, has raised over £15m of capital to date from private individuals for the project and has provided advice on structuring and energy. Although the chance to own an equity stake in the SSL business has passed, there is still an opportunity to help finance a further 2.7 Hectare extension to the existing glasshouse by investing, effectively as a bank, into the senior loan to the business at a fixed rate of 8.5% through Amberside ALP which can be held in an ISA. This opportunity is available to UK investors – including members of the local community – who may wish to be part of this exciting project. Although, as with all lending to companies, investors will be exposed to the risk of losing their capital if the company fails.

     
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CONTACT INFORMATION
Amberside Advisors Ltd
Directors:
Paul Austin FCA, Philip Rhoden FCA, Neil Rutledge FCA, David Scrivens FCA
Registered Office:
Clubfinance House, 64-66 Queensway, Hemel Hempstead, Hertfordshire, HP2 5HA
Registered in England. Registered Number: 06078852