In addition to advising on a steady stream of international commercial contracts, particularly IP licences and those involving regulated products and services in the life sciences sector, we have also recently been involved in a number of cross-border corporate transactions, three of which have some common threads and are mentioned below.
The two main threads are that the transactions have all come from long-standing relationships and have a connection with the USA. They have all required co-operation with lawyers and other advisers in different jurisdictions, sometimes alongside for the same client and sometimes in opposition for different clients, but always with a common commercial goal.
One such transaction involved Arq, which has developed a patented technology to produce micro fine hydrocarbons from coal waste for blending into petroleum and coal products. It has raised substantial funds to construct its first commercial plant in Corbin, Kentucky and is poised to roll-out its technology globally. We worked alongside lawyers in the US and the Channel Islands to assist our mutual client to achieve its fundraising target in a timely manner from investors based in a number of different jurisdictions worldwide. We first worked with the lead manager, a serial entrepreneur, and his team on another transaction in another industry and continent over 10 years ago.
Another transaction involved a software consulting company, which provides cloud-based IT solutions and strategies to businesses worldwide. Its UK- based senior management and controlling shareholders, attracted a well-funded US private equity backed vehicle, with a proven track record of investment and support, to assist in its plans for fast growth. We were referred to the management team in view of our prior experience on similar deals over the last 5 years and our familiarity with the favoured commercial structure of this particular US private equity institution as well as its transaction documentation and lawyers.
The third transaction involved an African fund investing in cleantech ventures. We were instructed to advise on the commercial terms of a subscription into a US special purpose fund investing in Series A to E equity securities of an LLC venture formed and operating a cleantech business in the US but with plans to expand its product and services into the EMEA market. We carried out due diligence on the proposed fund and target securities, liaising with lawyers and intermediaries for the fund and target entity. We were referred to one of the managers of the African fund by an investor with whom we first worked over 10 years ago.