New strategy based on the world of our clients

“Business-wise, 2022 was a good year.”

This is partner and chairman of the board Niels Bang’s short conclusion after a turbulent 2022. The Covid-19 crisis was followed by Russia’s invasion of and war against Ukraine, and the ensuing energy supply crisis and inflation, which resulted in many clients needing advice on sanctions and exit from the Russian market. However, Gorrissen Federspiel succeeded in adapting to the clients’ needs, and through a joint effort we have sought out and cultivated the opportunities that existed in the market.

“The team performed well together. We delivered what we had to deliver. The first half of the year was busy. In the second half, the market slowed down but both among employees and in the partner group, we’ve focused on landing assignments and allocating them to the relevant specialists. Our partnership model of equal partnership has proved to be the right structure for us,” the chairman explains.

The year also brought new reinforcements to the partner group. Two new partners were brought in from outside and three internal candidates were promoted.

“It’s always gratifying when three lawyers who have devoted their entire careers to the firm succeed in making partner. I’m also pleased that we’ve brought in two partners from outside, who can complement us in specialised positions where we need to strengthen our position. It’s been really good.”

Strategic evolution

We are doing so well that strategically we do not need a revolution, but an evolution, constantly changing and adjusting our business and working conditions. This is also how the new strategy, “Momentum 2025”, should be understood – as an evolution that builds on the strategy period that has ended, which the chairman of the board describes as “really good”.

“We set specific and ambitious goals for ourselves. And we more than achieved them,” says Niels Bang. “Strong image surveys and being awarded the title of Denmark’s best law firm three years in a row were some of the very visible victories. Now we need to set new goals to become even better at what we’re already good at. But it’s all about adjustments – never change a winning team.”

“Our starting point could hardly be better. Those of us who’re now in charge stand on the shoulders of our predecessors who’ve built up the company over many, many years. We’re benefiting from that, and we’ve been able to take the company to a new level. Therefore, it would be foolish to change something completely. But we must adapt to a world in constant change and deliver on the requirements and the quality that our clients expect from Gorrissen Federspiel,” says Niels Bang and explains that the clients have therefore been given an even bigger role in the new strategy.

Clients first

Already in the preparation of the new strategy, clients were consulted. Selected clients were asked to evaluate our strengths and weaknesses. At the same time, they shared their needs, wishes and recommendations on how we could enhance our services – because they are no longer limited to legal advice.

“We’re part of a profession that’s always delivered on its legal expertise. That’s just not enough today. Clients are demanding more. They also expect process management, business understanding and industry insight,” says Niels Bang, emphasising how lawyers in the US, given the size of the market, have long combined their legal specialisation with deep industry insight. “This is ultimately how you become the best adviser.”

This is not a new – or revolutionary –way of working at Gorrissen Federspiel, Niels Bang points out. One of the original law firms that Gorrissen Federspiel has its roots in, N.J. Gorrissen, was highly specialised in shipping.

“It’s an accumulated specialisation with decades of in-depth industry knowledge of the conditions and regulatory challenges faced by shipping companies and other maritime players, right down to company level.

For our Shipping/Offshore/Transportation group, this is a natural way to work. The same is true of the financial sector, where another founder, Per Federspiel, was widely recognised. In both areas, we’re the best in terms of legal expertise and we have the most profound industry knowledge in Denmark,” says Niels Bang.

“It’s one of the main objectives of the new strategy that we become even better at cultivating industry insight and our sector focus in all groups,” emphasises Niels Bang, giving an example of how a specialised M&A group is ultimately divided into sector-oriented sub-groups within, e.g., tech, entertainment, defence, life science and transactions of financial institutions.

He predicts a self-reinforcing effect in that more specialists will create more well-known names in the individual sectors, each of whom will become the most sought-after advisers in their field. “That’s not where we are yet. But if we can take that step, we’ll distance ourselves further from our competitors.”

Strengthening our sector focus is a further step towards specialisation The companies we advise have competent and highly specialised legal departments. We need to understand our clients and be on their side from the beginning to be able to advise them and add value.

“Value can only be added in the cross-section between our specialised legal expertise and the business world of our clients. It’s already an important competitive parameter and it’ll only grow,” Niels Bang predicts.

Therefore, sector focus is an important element of the Clients first strategy objective.

The Energy & Infrastructure sector group was strengthened in the spring with partner Christian Halskov Sauer, who has in-depth knowledge and many years of experience in the energy sector, which is currently undergoing a huge transition from black towards green. In this process of transition, there is a need for legal advice in areas such as wind farms, solar PV parks, waste-to-energy plants, Powerto-X projects and various subsidy schemes.

With a strengthened sector focus, we are reinforcing our ability to meet and predict our clients’ needs: What do our clients need, when and in what form? It is about having a sense of the situation, an empathetic approach and a very clear set of expectations, often checking in with your client and fully empathising with their needs. Finally, we need to set the right team for each matter every time.

“If the client lacks manpower, we need to be able to provide a large team. If the client requires project management, we’ll provide it, because we have the experience. It’s a tremendous reassurance for our clients that we can say, ‘This is going to happen soon, so we need to be prepared for this. We can take on this role because we have the experience from a wide range of transactions in their industry.”

The way forward

The adjustment towards increased specialisation will gradually emerge as matters are increasingly handled by specialists who are defined not only in terms of their legal expertise but also in terms of their sector focus.

“Specifically, if I receive an M&A transaction that I would previously have handled myself, because it’s within my area of expertise but outside my sector focus, I’ll pass it on to someone I know is deeply involved in that particular sector,” the chairman of the board explains. “This is exactly what our partnership model of equal partnership supports, rather than focusing on our own individual success. It’s the ideal basis for our next steps. If we fully succeed with that, the rest will take care of itself – and we’ll remain in a league of our own,” concludes Niels Bang.

Strategic expansion of the Energy & Infrastructure sector group

With the appointment of a specialised partner and the adding of resources dedicated to advising on renewable energy, Gorrissen Federspiel puts action behind its ambition to further align our already strong position in Energy & Infrastructure to the growing demand in the market.

When Christian Halskov Sauer joined as new partner in April, this was the preliminary culmination of the continued development of the Energy & Infrastructure group. Gorrissen Federspiel wants to keep the firm on the leading edge of the growing demand for assistance within renewable energy from both existing and new clients. Renewable energy transactions have today become much more complex, as has the regulation of the area. This requires advisers with a wide range of specialist competences.

Pilot for sector focus

With Clients first as one of the four guiding principles of the new strategy, “Momentum 2025”, sector focus will guide how our adviser resources will be aligned to the clients’ needs and our own organisation.

Energy & Infrastructure has as part of the strategic direction – and as a pilot project – led the way in the new organisation where many practice groups will have to focus even more on sectors. As a result of this, several attorneys focused their practice area towards the energy sector during 2022 –including renewables.

The initial strategy work involved identifying the specialist competences that we needed to build, expand and obtain to meet our clients’ specific need for assistance within renewable energy. We therefore now have highly specialised advisers with knowledge of and competences in, e.g., solar power, onshore/offshore wind energy and renewables.

Through the expansion, the Energy & Infrastructure group has grown significantly in 2022.

“We have a strategic advantage in the mix of knowledge and competences that we have gathered and expanded over the past year. We have a clear structure and the right competences to advise on the most complex projects and transactions in renewables,” says partner Christian Halskov Sauer.

Continued growth and expansion

The expansion of the Energy & Infrastructure group will continue in 2023 in both num- ber and width. Already in the spring, new specialists with strong competences in offshore wind will join the group.

“Our focus is on the increasing globalisation within renewables. And then we must to a greater extent follow our clients into the global arena when they operate internationally and together with local attorneys provide the best possible advice and framework for the execution of the projects,” explains Christian Halskov Sauer.

Finally, Energy & Infrastructure will – in line with the knowledge sharing that is a pillar of Gorrissen Federspiel’s external activities – share its experience and insight with clients and business partners, among other things through the “Gorrissen Federspiel Renewables Events”.

Adviser on several landmark energy projects

Thanks to our focus on renewable energy, Gorrissen Federspiel acted as legal adviser on a number of landmark renewables projects in 2022:

Anaergia

We assisted the Canadian-based Anaergia Group with drafting and negotiating an agreement on the annual supply of 60,000 tons of liquefied CO2 . With the liquefied CO 2 supplied by Anaergia, European Energy will produce green e-methanol fuel through Power-to-X facilities to power containerships that will be built by A.P. Moller - Maersk. The agreement is significant as it is one of the first agreements on the supply of liquefied CO2 in Denmark and it is an example of Carbon Capture and Utilization in the form of waste gas (CO2) from biogas production becoming useful biofuel.

GREEN2X and Vordingborg Biofuel

We were appointed as adviser in connection with the construction of the first global biogas and methanol plant to be established at the port of Vordingborg, Denmark and we are assisting with the preparation of relevant project development agreements, offtake agreements and construction agreements.

Joint venture between Skovgaard Energy A/S and Ørsted

We were appointed as adviser on the potentially largest global hydrogen project to be established in Holstebro, and we are assisting with the contractual structure for the joint venture between Skovgaard Energy and Ørsted.

New strategic partnership strengthens presence in Greenland

Gorrissen Federspiel has entered a strategic partnership with Arctic Law Greenland in Nuuk. The main focus of the cooperation is to exchange knowledge and to strengthen the provision of advisory services to the two firms’ clients in matters concerning the Arctic and Greenland.

Gorrissen Federspiel’s activities in Greenland

• Gorrissen Federspiel has acquired extensive knowledge of the special conditions, both regulatory and commercial, prevailing for businesses in Greenland.

• We provide assistance to self-government owned companies, privately owned companies in and outside of Greenland as well as to Naalakkersuisut, the Government of Greenland.

• Our activities in Greenland are usually handled by our Greenland Desk headed by partner Michael Meyer, partner Morten Hans Jakobsen and Managing Partner Martin André Dittmer.

• Greenland Desk collects and coordinates the firm’s knowledge base of Greenlandic matters and ensures that this is reflected in the legal advice we provide.

• In the fall of 2022, Gorrissen Federspiel entered a strategic partnership with Arctic Law Greenland in Nuuk.

The Arctic region plays an increasingly important geopolitical role, and as a result of this we have seen a rise in demand from several international clients for specialised regional insights into the Arctic and Greenland. Gorrissen Federspiel’s Greenland Desk handles such inquiries in collaboration with, among others, the Greenlandic and Nuuk-based law firm Arctic Law Greenland. In October 2022, this collaboration was further formalised.

“It has proven valuable for both parties that we’re able to complement each other in matters related to the Arctic and Greenland. It was therefore only natural for us to strengthen and formalise the collaboration that has a commercial as well as a strategic dimension,” says partner Michael Meyer.

Stronger presence in Greenland and the Arctic

The strategic aspect allows us to exchange knowledge and people and to handle matters in collaboration with Arctic Law Greenland. Moreover, with the agreement,

Gorrissen Federspiel has taken an important step towards establishing a permanent presence in the Arctic. The collaboration has already led to an increase in activity in the raw materials sector.

“With the agreement, we’re establishing a stronger presence in Greenland and the Arctic region. The combination of Gorrissen Federspiel’s corporate law expertise and Arctic Law’s specialised regional expertise and geographic presence makes it possible for us to provide –jointly and individually – the highest level of advice that meets our clients’ expectations,” says Martin André Dittmer.

The agreement is non-exclusive allowing us to handle legal issues and litigate cases related to Greenland together. This may include advising clients on corporate transactions, the extraction of raw materials, energy, infrastructure, major construction projects, offshore and transportation.

Within the framework of the agreement, Michael Meyer has joined Arctic Law Greenland’s newly established advisory board.