Travers Smith has advised new client Jefferies International Limited as Nomad and Broker on the AIM IPO of Xeros Technology Group plc.

Xeros, the innovative developer of a patented polymer bead cleaning system, today announced its admission to trading on AIM.  The company is developing a patented new technology to enhance laundry systems using polymer beads which replace the majority of the water used in conventional laundries.  The £28m fundraising is expected to allow the company to accelerate roll-out in commercial laundry and to fund research and development process. Xeros market capitalisation on admission was £80m.

This is the first transaction Travers Smith has completed for Jefferies International Limited and one of a string of high-profile instructions for Travers Smith in recent months.

The Travers Smith team was led by corporate partner Andrew Gillen supported by corporate associate Will Normand.

Steven Glover of Squire Sanders advised Xeros Technology Group plc.