Addleshaw Goddard advised new client, ClearStar, Inc. on its admission to trading on the Alternative Investment Market (AIM), effective today.

The AIM float gives ClearStar a market capitalisation of $35 million and raised $15 million for the company, with Cenkos acting as nominated adviser.

ClearStar, a US business which was founded in 1995, provides consumer-focused background screening services to companies. It helps businesses receive the information which they need to make safe hiring decisions, delivering data about applicants accurately, timely and cost effectively. The company, based in Alpharetta, Georgia, is embarking on a British and European expansion drive.

The Addleshaw Goddard team was led by corporate finance partner Charles Penney and included Simon Wood, Kieran Rafter, Louise Pritchard and Graham Price.

Cenkos was advised by Dorsey & Whitney. Sutherland Asbill & Brennan LLP advised ClearStar on the US aspects of the deal, and Maples and Calder advised on Cayman Islands law.

Charles Penney commented: "This deal marks another to add to the run of successful IPOs that are happening in the market and that we have advised on. We are proud to be part of this growth story for our client which marks a significant step for them into the UK and European arena."

This deal represents one of several IPOs that the firm has acted on recently, including SafeCharge International, GameAccount Networks, MyCelx Technologies Corp (another US business to IPO on AIM) and Boohoo.com (where it acted for Zeus Capital as Nomad).