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Ropes & Gray advises Averna Capital on investment in ClimateCare

Ropes & Gray has advised Averna Capital, a mid-market European private equity firm, on its investment in ClimateCare, a profit with purpose environmental and social impact company headquartered in Oxford, UK. The terms of the transaction have not been disclosed. 

ClimateCare is a leader in the global carbon markets and climate change sector. With offices in the UK and Kenya, it has an international customer base of clients and works with over 300 high quality projects in 56 countries covering 34 technologies. To date ClimateCare has reduced carbon emissions by 42.5 million tonnes of CO2 and improved the lives of over 41 million people. 
ClimateCare is a certified B Corporation, was one of the first companies to be awarded B Corporation status in the UK and remains one of the highest ranked.
The deal, which announced earlier this week, will accelerate the growth of ClimateCare. Averna Investment Company will become the majority shareholder in the business, with the founder investors remaining significant shareholders and partners in the business alongside Averna.
The Ropes & Gray team was led by private equity partner Will Rosen, supported by private equity associates Tarun Patel, Electra Callan, Daniel Williams and Kenan Ceylan – all based in London. 
Funds aspects of the transaction were led by funds partner Tom Alabaster, supported by associates Ciara Stratford and Dennis Genshenza. Tax aspects were led by tax partner Brenda Coleman, supported by tax associate Andrew Douglas – all based in London.

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