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Liberum acts as Joint Bookrunner and Sole Underwriter to Xafinity’s £70m raise

11 December 2017 | Bookrunner

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Liberum is pleased to announce that it is acting as joint bookrunner and sole underwriter to Xafinity, in connection with the acquisition of Punter Southall’s actuarial, administration and investment consulting businesses and the associated £70 million Capital Raising.

An initial consideration of £143m will primarily be funded by the £70m firm placing and placing and open offer, £42m of consideration shares, a new banking facility and the transfer of Xafinity’s HR Trustees business to Punter Southall.

The transaction will:

  • Create the largest pure-play pension consultant in the UK
  • Be earnings enhancing in FY19 and materially enhancing thereafter
  • Provide Xafinity with potential opportunities to cross-sell its services into the enlarged client base

Investment Banking – Richard Crawley, Robert Morton, Cameron Duncan, Jonathan Wilkes-Green

Research – Rahim Karim

Sales – David Parsons, Julian Collett

Corporate Access – Lynsey Cox

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Liberum acts as Nominated Adviser & Joint Bookrunner on the IPO of The City Pub Group

24 November 2017 | IPO

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Established in 2011 by three well known industry veterans, The City Pub Group owns and operates an estate of 34 premium pubs across Southern England.

Liberum assisted The City Pub Group in raising pre-IPO capital to fund its pub acquisition strategy in October 2015, remained in close contact with the company over the subsequent 2 years advising them on preparations for listing, and acted as Nominated Adviser and Joint Bookrunner on its AIM IPO in November 2017.

The IPO raised c.£47m, including £35m of primary proceeds to fund its acquisition strategy, which was upsized by £5m due to a significantly oversubscribed order book. The market capitalisation of the company on Admission was £96m.

The City Pub Group marks Liberum’s 6th IPO in the consumer / leisure sector over the last 18 months and its 5th IPO in 2017.

Liberum Team

Investment Banking – Chris Clarke, Ben Roberts, Dominik Götzenberger

Research –Anna Barnfather, Wayne Brown

Sales – Julian Collett, Oliver Baxendale, Sebastian Fernandez, Gerard O’Doherty, Lisa Tugwell, Richard Mawer, Tim Mayo

Corporate Access – Mary-Jane Clarke

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Liberum is pleased to announce its appointment as Joint Corporate Broker to Brewin Dolphin Holdings PLC.

15 November 2017 | Joint Broker

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Brewin Dolphin Holdings PLC is a private client wealth manager with an office network across the UK. It offers services to retail clients and charities, including discretionary and advisory wealth management as well as an execution-only service.

Brewin Dolphin Holdings PLC is listed on the Main Market of the London Stock Exchange and, with a market capitalisation of c.£1bn, is a member of the FTSE 250 index.

Liberum Team

Investment Banking – Richard Crawley, Cameron Duncan, Jonathan Wilkes-Green

Research – Justin Bates, Portia Patel, Jamie Donald

Sales – Steve Keeling

Corporate Access – Mary-Jane Clarke

Brewin Dolphin website

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Liberum acts as Sole Bookrunner on Footasylum IPO

31 October 2017 | IPO

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Liberum is pleased to announce the successful completion of a Placing and Admission to AIM for Footasylum plc, raising gross proceeds of circa £65m.

Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets. The Company retails “on-trend” product ranges which are predominantly aimed at 16 to 24 year old fashion-conscious customers and are sourced from an extensive stable of third party and own brands. These include well-known sports and casual footwear and apparel brands, as well as up-and-coming brands and own label products.

Following a strong cornerstone marketing process, Liberum produced a detailed pre-IPO research report, and organised a ten day management roadshow, including two site visits, with quality potential investors. A strong book of demand was delivered, with the placing being significantly over-subscribed, allowing the deal to be priced at the top of the indicated valuation range.

The share register is composed of high quality institutions and strongly focused on those investors who met and engaged with management during the roadshow.

Liberum acted as sole bookrunner on this IPO.

Liberum Team

Investment Banking – John Fishley, Jill Li, Lucy Sharma, William Hall

Research – Wayne Brown, Adam Tomlinson

Sales – Julian Collett, Gerard O’Doherty, Oliver Baxendale, Seb Fernandez

Corporate Access – Marcio Remedios

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Liberum is pleased to announce its appointment as Joint Broker to Ricardo plc

25 October 2017 | Joint Broker

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Ricardo is a global engineering, technical, environmental and strategic consultancy business. The Company also manufactures and assembles niche, high-quality and high-performance products, and counts companies such as McLaren, Ford and the US Army as its clients.

Ricardo offers its services to clients active in sectors such as: Automotive, Commercial Vehicles, Defence, Energy & Environment, Motorsport, Motorcycle and Off-Highway Vehicles.

The Company is listed on the Main Market of the London Stock Exchange, and has market capitalisation of c. £450m.

Liberum has been appointed as Joint Corporate Broker alongside Investec, with immediate effect.

Liberum Team

Investment Banking – Richard Crawley, Robert Morton, Richard Bootle, Dominik Götzenberger

Sales – Oliver Baxendale

Research – Ben Bourne, Rory Smith

Corporate Access – Marcio Remedios

+44 (0) 20 3100 2000

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Liberum acts as intermediary on £140m Tender Offer by Zegona Communications plc

11 October 2017 | Intermediary

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Zegona returned £140m to shareholders by way of a tender offer at a price of £2.00 per share.

The non-US tender offer was implemented by Liberum, acting as principal, acquiring the successfully tendered shares and a subsequent repurchase of the tendered shares from Liberum  by the Company by way of an on-market transaction on the London Stock Exchange.

Zegona (the “Company”) was established in January 2015 with the objective of acquiring businesses in the European TMT sector with a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns. Following Zegona’s sale of Telecable to Euskaltel in July 2017, the consideration for which included cash of €186.5m, the Company committed itself to return cash to shareholders quickly and tax efficiently.

Equities – David Parsons

Investment Banking – Richard Crawley, Cameron Duncan, Tom Bacon, Jonathan Wilkes-Green

Operations – John Truscott, Anthony Schia, Rob Simpson, Mark Proctor, Chris Metcalfe

Legal – Rebecca Gordon

+44 (0) 20 3100 2000

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