Shoosmiths advises Haversham Holdings on AIM float

Shoosmiths advises Haversham Holdings on AIM float


Author: Kara Shadbolt

Shoosmiths has advised new company Haversham Holdings on their decision to float on the Alternative Investment Market (AIM).

Martin Letza

Haversham Holdings is a new Group formed by Avril Palmer-Baunack former executive chairman of Stobart group and former chief executive of Autologic, along with the support of Marwyn, the specialist investment management company. Avril will drive the business alongside fellow executive directors James Corsellis and Mark Brangstrup Watts.

It is intended, after admission to AIM, that the company will use equity to acquire various businesses in the automotive, support services, leasing, engineering and manufacturing sectors with both publicly listed and private companies as potential targets.

Shoosmiths' partner Martin Letza, and solicitor Rachel Seaton advised on the float.

Avril Palmer-Baunack said: 'With the partnership of Marwyn and the support of our leading institutional investors we intend to build a substantial business that generates value for our shareholders in sectors where Haversham can add value alongside excellent operational management teams.

'The Shoosmiths team has seamlessly advised and navigated us through this process. Since the decision to float was made, Shoosmiths have impressed Haversham with their exemplary support through the legal complexities.'

Martin Letza, said: 'We are sure that Haversham Holdings' admission to the Alternative Investment Market today will mark the start of a very successful journey for the group, and Shoosmiths are proud to have acted on behalf of the group at such a critical stage. We wish them every success going forward.'

Haversham Holdings intends to acquire controlling stakes in quoted and unquoted businesses or companies. This is intended to create a platform for further acquisitions in sectors where opportunity exists to create significant shareholder value via a well-executed consolidation strategy.

Marwyn is a specialist investment management company which, with the support of leading co-investors, creates value through the acquisition and development of businesses. Marwyn has a record of generating excellent returns for investors through its strategy of working alongside its portfolio companies and has made a substantial investment in the company.

Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers right through the business life cycle. Shoosmiths work with businesses from start up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.