Macfarlanes has advised independent private equity company Growth Capital Partners (GCP) as its fourth fund closes at £205m, having exceeded its target of £200m. Investment commitments came from both existing and new institutional investors including public pension funds, insurance companies and investment management groups based in the UK, Europe and US.
International legal practice Osborne Clarke has advised Cenkos Securities, in its capacity as nominated adviser and broker, on the AIM market IPO of Arena Events Group plc. which is expected to have a market capitalisation following admission of £63.1 million.
Arena is a provider of temporary physical structures, seating, ice rinks, furniture and interiors for major sporting, outdoor and leisure events, providing a managed solution from concept and design through to the construction and integration of the final structure and interior.
Travers Smith LLP has advised finnCap Limited as nominated adviser and sole bookrunner to PROACTIS Holdings Plc, a global Spend Control and eProcurement solution provider, on PROACTIS’ proposed acquisition of Perfect Commerce, LLC for an aggregate consideration of up to $132.5 million (approximately £102.4 million), together with its oversubscribed conditional placing to raise £70.0 million.
Slaughter and May, Hong Kong, is advising Orient Overseas (International) Limited (OOIL), in relation to the pre-conditional voluntary general cash offer (Offer) by UBS on behalf of Faulkner Global Holdings Limited (a wholly-owned subsidiary of COSCO SHIPPING Holdings Co., Ltd (COSCO SHIPPING Holdings)) together with Shanghai Port Group (BVI) Development Co., Limited (a wholly-owned subsidiary of Shanghai International Port (Group) Co., Ltd. (SIPG)) as joint offerors to acquire all the issued shares in OOIL.
Houthoff Buruma advised DP Eurasia N.V. and its shareholders (Turkish Private Equity Fund II L.P. and CEO Aslan Saranga) on the IPO of Netherlands-based DP Eurasia N.V. as premium listed company on the London Stock Exchange. DP Eurasia is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. The group offers pizza delivery, takeaway and eat-in facilities at its 571 stores. The IPO comprised both a primary and secondary offering of a total of 74.1 million shares, equating to an offer size of approximately £148 million.
On July 6, 2017, Zur Rose Group AG, the leading "pure play" e-commerce pharmacy in Europe, completed its initial public offering (IPO) and listing on SIX Swiss Exchange (ticker symbol ROSE, ISIN CH0042615283). The total placement volume was CHF 252 m and the book was multiple times oversubscribed at the offer price of CHF 140, which was the high end of the price range. The bank syndicate comprised UBS and Berenberg as Joint Global Coordinators and Joint Bookrunners, and Zürcher Kantonalbank as Co-Lead Manager.
London (7 July 2017) – Reed Smith advised Jefferies International, a leading global investment bank, in its capacity as sponsor and sole bookrunner on a £180 million initial public offering (IPO) for Residential Secure Income (ReSI), a newly established REIT operating in the social housing sector. The fundraising involved a placing and offer for subscription in key European jurisdictions and a private placement to institutional investors in the United States.
Hamburg-based FinTech company THE NAGA GROUP AG ("NAGA") celebrated its successful launch in the Scale segment of the Open Market on the Frankfurt Stock Exchange today, 10 July 2017. The supervisory team at Allen & Overy has advised NAGA since its establishment in August 2015 on banking regulatory issues relating to the business model in particular also with a view to the IPO. This is only the second IPO on the newly opened Scale segment of the Frankfurt Stock Exchange.
Baker McKenzie has advised Accel, an American venture capital firm, on the EUR 14 million fundraising of Payfit, a company specialized in managing payrolls.
After a EUR 5 million fundraising in October 2016, this new fundraising will enable the startup to grow through products and services development, allowing the company to double its workforce by 2018 and become a leader on the very competitive European market.
Founded in 2015, PayFit is a Software-as-a-Service (SaaS) solution which simplifies companies' payroll processing and social security declarations.
Macfarlanes has advised Hayfin Capital Management, a leading European credit platform, on its special opportunities strategy, which recently completed its latest fundraising process, attracting total commitments of €2.2bn.
Hayfin is a longstanding client of the firm, with Macfarlanes previously instructed to act on other core projects for the business from its establishment in 2009 to its recent direct lending strategy fundraise, which completed in March 2017.