City boutique law firm iLaw, which has a focus on businesses and entrepreneurs, advised CleanCo in its company rebrand and a £7 million fund-raise for investment.
Founded by former Made in Chelsea TV personality Spencer Matthews, iLaw advised on the rebrand of the low & no-alcohol spirits business from Clean Liquor to CleanCo. Along with the rebrand, the company has also released two signature “ready to drink” products – Clean Gin & Tonic and Clean Rum & Cola which are now available in health food retailer Holland & Barrett. CleanCo also plans to expand its low-alcohol products across a wide range of beers, wines and vodka.
Led by Justin Ellis, the iLaw team helped the low-alcohol brand to raise £7 million investment from private individuals and venture capital funds for a 20% share in the company, following on from the £2m investment that completed in early 2020. Ursula Burns, the first African American woman CEO of a Fortune 500 company, and Simba Sleep founder James Cox are part of the investment group in the private raise. CleanCo will be spending the fund in advertising, product development and team expansion in the coming year.
iLaw director Justin Ellis commented: “The diverse nature of the investors, from private equity firms to well-known industry figures, plus actors and TV personalities, meant that we had to juggle a range of different priorities. That’s one of the things that makes it so interesting working with a client like CleanCo, and we were delighted to help them close their second investment round so that they can continue to expand their product range and markets.”
Notes to Editors
iLaw is an innovative City of London commercial law firm with a focus on clients in the technology, media and telecoms sectors, although it has many clients in other sectors too.
To find out more, please contact iLaw’s director Justin Ellis via email at Justin.ellis@ilaw.co.uk or 07701 032087.
