Gowling WLG's Corporate team has won 'Private Equity/Venture Capital Deal of the Year' at the 2023 Insider South East Dealmakers Awards.

A celebration of the M&A profession in the region, the South East Dealmaker Awards honour the achievements of the corporate finance community in support of South East businesses over the last 12 months, and showcases the firms and professionals acting on the region's major transactions.

The 'Private Equity/Venture Capital Deal of the Year' accolade celebrates the team behind the most significant private equity/venture capital-backed deal involving a regional business.

Led by partner Gareth Baker alongside Partner Kristian Rogers (client partner) and associate Hannah Gough, the team wins the award for its role in a Series B fundraising for HiiRoc. The green energy company had developed an innovative electrolysis process and needed further funds to continue the commercialisation and take it to market. The second round of funding helped HiiRoc to secure £26 million invested as equity by investors including Centrica, Hyundai and Kia. Gowling WLG is named alongside Cripps, Freeths, Ashurst, and RW Blears LLP for their involvement in the deal.

Insider judges praised the deal for having "drawn significant investment from global players and also that it was one that contributes to the hydrogen economy's shift to Net Zero".

The transaction comprised one of seven deals Gowling WLG supported clean hydrogen-dedicated investment fund HydrogenOne Capital Growth plc in 2022. That support has continued in 2023, the latest completed transaction being its investment into a development project located in Thierbach, Germany. The company's first investment commitment in a green hydrogen supply project, the project relates to the construction of an industrial-scale green hydrogen production plant that will serve customers across the energy, transportation and industrials sectors in Germany as an alternative to fossil fuels.

This latest award success follows further corporate team recognition by Insider, claiming 'International Deal of the Year' at the 2022 Insider Midlands Dealmakers Awards for advisory to the selling shareholders (including LDC) of Solid Solutions Group (SSG), in relation to the acquisition of SSG by TriMech. The team was also shortlisted at the 2023 South East Dealmaker Awards in the 'Deal of the Year (£10 million+)' category, for its role in the sale of Aqualisa to Fortune Brands (exit for LDC).