Liberum
MENU

News

Liberum acts as NOMAD and Sole Bookrunner on Gresham House plc’s £15m placing

22 May 2018 | Nomad and Sole Bookrunner

 GH

We are pleased to announce that Liberum has successfully raised £15m through the placing of 3.7m shares in Gresham House at 410p with new and existing institutional investors.

Gresham House is a specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, on a range of differentiated alternative investment strategies.

The Company will use the £15m proceeds to partially fund the acquisition of FIM Services Ltd, an alternative investment manager specialising in UK real assets, specifically forestry (83,000 hectares) and renewable energy generation (137MW).

FIM will be acquired for an initial consideration of £21 million (£11 million of cash and £10 million of Gresham House equity) with a deferred
consideration of up to £4 million payable in cash and based upon certain performance criteria.

The acquisition will more than double Gresham House’s AUM, taking it from £649 million to c.£1.5 billion of assets under management. In addition, the acquisition will make the enlarged group profitable and significantly enhance EPS.

Liberum acted as NOMAD and Sole Bookrunner on the placing. Taurus London acted as Financial Advisor on the acquisition.

Liberum Team

Investment Banking – Neil Elliot, Jill Li, Youichi Iisaka, Trystan Cullen
Sales – SMID Cap team
Specialist Sales – Steve Keeling
Execution – Graham Smith, Mark O'Hara
Corporate Access – Lucy Williams, Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

 

Liberum acts as NOMAD and Sole Bookrunner on Volex plc’s £36m placing

17 May 2018 | Nomad and Sole Broker

Volex

We are pleased to announce that Liberum has successfully raised £36m through the placing of 48m shares in Volex at 75p with new and existing institutional investors.

Volex is a global provider of electrical and optical connection solutions and has recently moved from the Premium Segment of the Main Market to AIM in January 2018 as part of its new long-term strategic plan to develop new markets through acquisitions and joint venture arrangements with strategic partners.

The Company’s will use the £36m proceeds (at current FX rates) for the following:

  • c.$20m for the acquisition of Silcotec Europe (cable assembly manufacturer), further diversifying the customer base and consolidating the fragmented Cable Assemblies market;
  • c.$20m over-equitisation adds to a net cash position generating greater firepower for deployment in further deals and reduces reliance on previously restrictive banking facilities; and
  • c.$10m is earmarked for internal investment
    – we expect c.$3m of incremental capex to invest in automation with the balance going into working capital to support organic growth opportunities with a prominent EV manufacturer and Dyson.

The Placing is conditional on shareholder approval at a General Meeting of the Company to be held on 4 June 2018, with admission of the Placing Shares to take place on 5 June 2018.

Liberum acted as NOMAD and Sole Bookrunner on the placing.

Liberum Team

Investment Banking – Steve Pearce, Euan Brown, Laura Hamilton
Sales – Oliver Baxendale, Julian Collett, Tim Mayo
Research – Rory Smith
Execution – Graham Smith, Mark O'Hara
Corporate Access – Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

 

 

Liberum appointed Joint Corporate Broker to MedicX Fund Limited

10 May 2018 | Joint Corporate Broker

Medicxfund

Liberum is pleased to announce its appointment as Joint Corporate Broker to MedicX Fund Limited.

MedicX is a specialist primary healthcare REIT which invests in modern, purpose-built primary healthcare properties in the UK & Republic of Ireland. The Company has a portfolio of 151 completed properties with an average value of £4.4m.

MedicX selectively buys high quality dominant assets or forward-funds new schemes under framework agreements with a range of experienced developers in both the UK and the Republic of Ireland.

The fund is listed on the Premium Segment of the Main Market and has a market capitalisation of c.£346m.

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

Liberum Team

Board – David Parsons
Investment Banking – Richard Crawley, Jamie Richards, Laura Hamilton, William Hall

Sales – John Mozley
Research – David Brockton
Corporate Access – Lucy Williams

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

 

Liberum acts as Sole Corporate Broker to AEW UK REIT plc.

03 May 2018 | Sole Corporate Broker

AEW

AEW UK REIT plc (AEWU) is a real estate investment trust listed on the premium listing segment of the Official List and traded on the Main Market. It invests in a diversified portfolio of small, high yielding commercial properties across the UK. AEWU listed in May 2015 and has raised more capital six times since.

AEWUK has a highly experienced investment manager, AEW UK Investment Management LLP, which is part of AEW Global, one of the world’s largest real estate managers with €57.7bn of assets worldwide.

Liberum pitched for the brokership recently and now acts as Sole Corporate Broker and will act as Sole Bookrunner in connection with any placings.

Liberum Team

Investment Banking - Gillian Martin, Jamie Richards, Kane Collings

Research - Conor Finn, David Brockton

Sales - Andrew Davies, Anastasia Mikhailova, Jack Kershaw, John Mozley

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

 

Liberum appointed Joint Corporate Broker to Crest Nicholson

02 May 2018 |

Crest -1 (1)

Liberum is pleased to announce its appointment as Joint Corporate Broker to Crest Nicholson.

Crest Nicholson is a leading residential developer operating in the Southern half of England with an emphasis on creating well designed homes in sustainable communities. The Group has a wide product range, varying from homes for first time buyers through to large family homes, and includes a mixture of houses, apartments and supporting commercial premises as part of its larger developments.

The Group, which was established over 50 years ago in 1963, has a history of 39 years on the Official List and trading on the London Stock Exchange’s Main Market between 1968 and 2007. The Group re-listed on the London Stock Exchange in 2013.

Crest Nicholson has a market capitalization of £1.2bn and is a constituent of the FTSE 250.

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

Liberum Team

Board - David Parsons

Sales – Julian Collett

Research – Charlie Campbell

Investment Banking – Neil Patel, Richard Bootle, Louis Davies

Corporate Access – Lynsey Cox

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

Liberum acts as NOMAD and Sole Bookrunner on the IPO of Urban Exposure

01 May 2018 | IPO

Urban Exposure Logo Web

We are pleased to announce that Liberum has successfully raised £150m for Urban Exposure plc (UEX). The shares are expected to be admitted to AIM on 9 May.

Urban Exposure is a specialist residential development finance and asset management company that has been formed to provide finance for real estate development loans across the United Kingdom.

The Company seeks to align its asset management and lending strategy to address the significant shortfall in housing stock and Government initiatives for increasing housing supply.

Liberum organised extensive pre-marketing in early 2018, produced a detailed pre-IPO research report, conducted a well-received Investor Education Roadshow, and organised a two week Management Roadshow with 67 institutional investors. A high quality book of demand was delivered with management retaining a material stake in the business and locked up for 3 years.

Urban Exposure plc is the largest IPO on AIM by capital raised, year to date.

Liberum acted as NOMAD and sole bookrunner on this IPO, and is retained as NOMAD and Sole Broker to the Company post Admission.

Liberum Team

Board - Shane Le Prevost, David Parsons

Investment Banking - Neil Patel, Gillian Martin, Jonathan Wilkes-Green, Louis Davies

Sales - Steve Keeling, Julian Collett

Research - Justin Bates, Portia Patel, Jamie Donald

Execution - Graham Smith, Mark O'Hara

Corporate Access - Anna Barber

Urban Exposure Image

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum