Nabarro has advised Investec on the main market IPO of Kainos Group plc, the UK-based provider of IT services, consulting and software solutions. Investec was acting as sponsor in relation to the transaction which gives Kainos a market capitalisation of £161.3 million.

Kainos operates through three divisions: digital consulting (providing full system development mainly to UK government); Evolve (the market leader for the digitisation of patient records in the UK); and Workday implementation (the implementation of Workday human capital management systems).

The IPO allowed Queen's University Belfast and other shareholders to realise some of their investment. As a consequence of its cash generative business, Kainos is only raising a small amount of funds through an employee offer to allow further staff participation in the business.

The Nabarro team was led by partner and head of Corporate, Iain Newman and senior associate, Jack Shepherd, with assistance from associate, Charlotte Williams. DLA advised Kainos.

Dominic Emery, Director at Investec leading the transaction commented:

"The Nabarro team really outperformed for us, ensuring that any issues were dealt with effectively and often proactively. Iain and Jack are a great double act, it is easy to rely on the quality of their advice and we look forward to working with them again soon."

Partner and Head of Corporate at Nabarro Iain Newman said:

"It was a pleasure to work with the Investec team to get an IPO to fruition for a very good company. We look forward to working with Investec again. We wish Brendan, Richard and the team at the company all continued success."

Commenting on transaction, Guy Heath, Partner and Head of the Technology sector at Nabarro said:

"This is another example of our expertise in the technology sector. Following on from the Phoenix/Daisy deal, this shows the sweet spot of technology and capital markets is really working for us."