Latham & Watkins Advises Vision Ridge Partners in Acquisition of Turks and Caicos Islands Electric Utility

Vision Ridge Partners (Vision Ridge), a global sustainable real assets investor, has announced that funds managed by Vision Ridge have acquired FortisTCI Ltd., the electricity utility company serving the Turks and Caicos Islands (TCI). In connection with the ownership transition, the company has rebranded as Pelican Energy TCI, reflecting its renewed focus on building a more sustainable and resilient energy future for TCI. With the support of Vision Ridge, the company will continue to provide safe, reliable electricity service to its customers while seeking to improve its generation mix and grid infrastructure to meet TCI’s evolving economic and energy landscape. Terms of the transaction were not disclosed.

Latham & Watkins LLP advised Vision Ridge Partners in the transaction with a corporate deal team led by partners Carlos Ardila, Tony Del Pino, and Justin T. Stolte, with associates Julu Katticaran, Francisco Lanusse, Diego Guimaraes-Blandon, and with assistance from Catalina Ucros Tellez. Finance matters were led by partner Marcela Ruenes, with associates Anna Molina and Emiliano Flores. Intellectual property matters were handled by partner Jeff Tochner, with associate Sebastian Moss. Specialist advice was provided on labor matters by counsel Laura Szarmach; on tax matters by partner Eric Kamerman; on compliance matters by partners Andrew Galdes and Katherine Sawyer; on antitrust matters by partner Jason Cruise; on data privacy matters by partner Robert Brown, with associate Kiara Vaughn; on insurance matters by partner Harrison White; on environmental matters by partner Joshua Marnitz, with associate Phil Goldberg; on project contracts by counsel Seth Richardson; and on dispute resolution by partner Santiago Bejarano, with associate Nicolas Esguerra.