Michelmores has advised long-time client, Armstrong Capital as it joins Beringea’s newly launched estate planning service. Armstrong’s managed solar businesses, Solar Growth Limited and Solar Income and Growth Limited, are to form a central part of a newly launched estate planning service from award-winning VCT manager, Beringea. The Beringea Estate Planning Service is a new IHT offering by Beringea and will initially offer investors the opportunity to invest into businesses that either own and operate UK solar systems, or businesses that provide secured loans to SMEs and UK clean energy businesses. The service is targeting to offer investors annual returns of 4-5%. Another of Armstrong’s businesses, Secured Lending Limited, which provides loans to energy and infrastructure projects will also form part of the service.
Alexandra Watson advised Armstrong on the framework documents for the deal.
Michael Hughes, Director at Armstrong Capital, says:
“We are delighted to be a part of the Beringea Estate Planning Service, combining our expertise with Beringea to offer investors access to Armstrong’s existing UK solar focused businesses. The UK renewable sector is set to undergo further growth in the coming years, and we look forward to working with Beringea in growing our energy businesses and delivering attractive returns.”
“Michelmores has advised Armstrong Capital on a number of its strategic transactions and I am delighted to support Michael and his team with this new venture.”