23/05/2019
Memery Crystal, the independent London based law firm, is pleased to announce that it has advised both Cenkos and Berenberg on a Placing, by way of accelerated bookbuild, on behalf of Marlowe plc to raise £20m in connection with its acquisition of Clearwater Group Limited.
Marlowe plc, the AIM listed specialist services group focused on developing companies which assure safety and regulatory compliance, raised gross proceeds of £20m through the placing of 4,694,836 ordinary shares at a price of 426p per ordinary share, with institutional investors. Cenkos and Berenberg acted as joint bookrunners to the Placing, which was oversubscribed.
The net proceeds of the placing will go towards repaying part of Marlowe’s £30m revolving facility, as well as funding restructuring costs incurred from the acquisition of Clearwater.
The Memery Crystal team was led by Corporate Partner Lesley Gregory and Senior Associate Mark O’Donnell, alongside Victoria Charalambous and Elisabeth Wagner.
Commenting on the deal, Senior Associate Mark O’Donnell, said: “We are very pleased to have advised both Cenkos and Berenberg on this significant placing for Marlowe plc. This demonstrates our expertise and ability to deliver top-level advice in the London markets and further builds upon our strong track record in acting broker-side in secondary fundraisings. It has been a pleasure to work with Cenkos and Berenberg, with whom we look forward to continuing our relationship going forward.”
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