Linklaters LLP

Clients in the water sector turn to Linklaters LLP when requiring assistance with matters involving financing and capital structures, regulation and competition, the environment, investigations, disputes, pensions and sponsor-level M&A. The practice is jointly led by Natura Gracia and Mark Nuttall. Garcia focuses on the regulatory side, frequently advising on investigations and the price control framework, particularly PR24. Nuttall leads the firm’s structured finance work, regularly assisting clients with financing restructurings and equity raises. Emma Crawford, who was promoted to partnership in May 2025, advises water companies on financing, regulatory and investigations matters. Former co-head Julian Davies retired from the firm in April 2025.