Gateley Plc advises on post-Brexit IPOs

National law firm, Gateley Plc, has advised Cantor Fitzgerald Europe on the successful £26.6 million fundraising and admission to the Alternative Investment Market (AIM), of the London Stock Exchange, of Autins Group Plc.

The float sees Autins Group become the second West Midlands company to float on AIM since the EU referendum in June 2016, joining Franchise Brands plc which floated in early August and was also advised by Gateley Plc.

Corporate partner Paul Cliff and senior associate Tom Rush led the team advising on both deals.

Paul commented: “We are delighted to have advised on the Autins and Franchise Brands IPOs and we look forward to working with them to achieve their strategic objectives. Additionally, it is particularly pleasing to see capital markets activity continuing in the wake of the Brexit vote.”

Autins Group, the Rugby based makers of advanced insulation to manage noise and heat emissions for car makers, counts Aston Martin, Bentley and Jaguar Land Rover among its clients. The Group made a pre-tax profit of £1 million on sales of £21.4 million in the year to September 2015, and is targeting a £25 million turnover in the current financial year.

Franchise Brands, which is headquartered in Kidderminster, operates three brands, ChipsAway, Ovenclean and MyHome, through 330 franchisees. It predominantly operates in the UK but has franchisees in 12 countries. In 2015 it generated pre-tax profits of £1.1 million on revenues of £4.4 million.

The IPOs highlight the national strength of Gateley’s corporate team, which was ranked first for deal volume in the Experian Corpfin M&A Advisor League Table for the first half of 2016. The team had been ranked top for the first quarter in 2016 and managed to maintain their position for the half-year thanks to their involvement in 64 deals.

The positive first half in 2016 has seen the corporate team build on an impressive 2015 in which they helped deliver on more than 200 significant deals with an aggregate deal value in excess of £1.4 billion, working with some household names.

Gateley Plc, which last year became the first law firm in the UK to go public, revealed its first full-year results in July 2016. Turnover at the national law firm increased more than 10% to £67.1 million.

The law firm works through a network of seven English offices based in Birmingham, Leeds, Leicester, London, Manchester, Nottingham and Reading. In April 2016, the firm acquired tax incentives advisory business Capitus, now Gateley Capitus – the first acquisition since Gateley Plc floated on the AIM market of the London Stock Exchange.