Gateley Plc advised Cantor Fitzgerald on the successful £26.6 million fundraising and admission to AIM of Autins Group plc.
Rugby based Autins makes advanced insulation to manage noise and heat emissions for car makers, and includes Aston Martin, Bentley and Jaguar Land Rover among its clients.
The group has four divisions – Automotive Insulations in Rugby, its joint venture Indica Automotive in Northampton, Rheinland Insulations in Hilden, Germany, and Scandins in Gothenburg, Sweden.
Autins Group made a pre-tax profit of £1m on sales of £21.4m in the year to September 2015. It is targeting £25m turnover in the current financial year and is expected to be valued at around £40m when it starts trading on AIM.
In April, Autins signed a 15-year lease at Birch Coppice Business Park in Tamworth. The 47,500 sq ft site is for its new Solar Non-Woven business, which will manufacture a type of micro-fibre insulation never previously used outside Korea
Hot on the heels of Franchise Brands, Autins is the second West Midlands company to float on AIM since the EU referendum. Gateley have advised on both deals.
The deal was led by Corporate Partner Paul Cliff and Senior Associate Tom Rush from Gateley’s Birmingham office. Commenting on the deal Paul said: “We are delighted to have advised on the Autins IPO and it is particularly pleasing to see capital markets activity continuing in the wake of the Brexit vote.”