Leading global law firm Baker McKenzie has advised Shell on its agreement to acquire MIDEL and MIVOLT, lines of business currently owned by Manchester-based M&I Materials Ltd.
The acquisition of MIDEL’s premium product range will enhance Shell’s global lubricants portfolio, complementing its differentiated position in Transformer Oils used for power distribution, offshore wind parks, utility companies and traction power systems. Through MIVOLT’s ester-based immersion cooling fluids, Shell will support the development of thermally efficient electric vehicle batteries, battery energy storage systems and data centres.
For the purposes of this acquisition, M&I Materials Ltd will carve out its MIDEL and MIVOLT businesses into M&I Materials Development Ltd, which Shell will acquire in full. Subject to regulatory approvals and deal completion, which is expected fourth quarter of 2023, M&I Materials Development Ltd will subsequently be fully owned and operated by Shell. M&I Materials Ltd will continue to operate its other business lines.
The Baker McKenzie team, led by London corporate partner David Duncan, included senior associates Andrew Burleigh and Tom Quincey (corporate), Anthony Gamble (competition, trade and foreign investment) and John Bracken (employment) and associates Julie Chemla (corporate), Kirsty McCarron (competition, trade and foreign investment) and Harry Kirkwood (intellectual property and technology).
David Duncan commented: "We are delighted to be supporting Shell on another important portfolio acquisition for Shell Lubricants, having also recently advised on the acquisition of the Environmentally Considerate Lubricants business of the PANOLIN Group. These deals are an excellent illustration of our work across industries and sectors to support clients at the forefront of the transition to net zero emissions. It continues to be a pleasure to work with a number of Shell’s business, acquisition and divestment teams.”
This is the latest in a series of high profile energy transition mandates Baker McKenzie has advised on. Other recent deals include:
• Advising Shell on its acquisition of the PANOLIN Environmentally Considerate Lubricants (ECLs) business from the PANOLIN Group
• Advising Shell on the sale of its Russian downstream retail petrol and lubricants blending business to LUKOIL
• Advising Shell on the sale of its interest in the Salym Petroleum Development joint venture to Gazprom Neft
Baker McKenzie is a transactional powerhouse, with more than 2,500 deal practitioners in 45 countries offering leading expertise in the areas most critical for our clients. We excel in complex transactions and cross-border deals – over 65% of our deals are multi-jurisdictional. We are global and local, combining money-market sophistication with local excellence.
The acquisition of MIDEL’s premium product range will enhance Shell’s global lubricants portfolio, complementing its differentiated position in Transformer Oils used for power distribution, offshore wind parks, utility companies and traction power systems. Through MIVOLT’s ester-based immersion cooling fluids, Shell will support the development of thermally efficient electric vehicle batteries, battery energy storage systems and data centres.
For the purposes of this acquisition, M&I Materials Ltd will carve out its MIDEL and MIVOLT businesses into M&I Materials Development Ltd, which Shell will acquire in full. Subject to regulatory approvals and deal completion, which is expected fourth quarter of 2023, M&I Materials Development Ltd will subsequently be fully owned and operated by Shell. M&I Materials Ltd will continue to operate its other business lines.
The Baker McKenzie team, led by London corporate partner David Duncan, included senior associates Andrew Burleigh and Tom Quincey (corporate), Anthony Gamble (competition, trade and foreign investment) and John Bracken (employment) and associates Julie Chemla (corporate), Kirsty McCarron (competition, trade and foreign investment) and Harry Kirkwood (intellectual property and technology).
David Duncan commented: "We are delighted to be supporting Shell on another important portfolio acquisition for Shell Lubricants, having also recently advised on the acquisition of the Environmentally Considerate Lubricants business of the PANOLIN Group. These deals are an excellent illustration of our work across industries and sectors to support clients at the forefront of the transition to net zero emissions. It continues to be a pleasure to work with a number of Shell’s business, acquisition and divestment teams.”
This is the latest in a series of high profile energy transition mandates Baker McKenzie has advised on. Other recent deals include:
• Advising Shell on its acquisition of the PANOLIN Environmentally Considerate Lubricants (ECLs) business from the PANOLIN Group
• Advising Shell on the sale of its Russian downstream retail petrol and lubricants blending business to LUKOIL
• Advising Shell on the sale of its interest in the Salym Petroleum Development joint venture to Gazprom Neft
Baker McKenzie is a transactional powerhouse, with more than 2,500 deal practitioners in 45 countries offering leading expertise in the areas most critical for our clients. We excel in complex transactions and cross-border deals – over 65% of our deals are multi-jurisdictional. We are global and local, combining money-market sophistication with local excellence.
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