Investor appetite helps Browne Jacobson complete back-to-back equity market fundraisings

Browne Jacobson’s corporate finance team has completed a brace of investor backed fundraisings for two Midlands based businesses.

The team first advised AIM listed Belvoir Lettings plc on its acquisition of franchise property sales and lettings company Newton Fallowell, part funded by the placing of new shares on AIM, raising £4.28. Shortly after completing the Belvoir transaction, the team has now advised Main Market listed Source BioScience on its class 1 acquisition of Select Pharma Laboratories Ltd, a leading provider of stability storage and testing services, part funded by the placing of new shares on the Main Market, raising £4.4 million.

The team has had a busy few months which saw it successfully complete the sale of Insure the Box for £105 million, amongst others.

Already the largest corporate practice in the East Midlands, the Birmingham team has seen considerable growth in the West Midlands in recent years with the arrival of two new partners, Mike Jackson and Kevin Jones, joining Roger Birchall to create one of the largest corporate teams across the Midlands, servicing clients across the UK and internationally.

Corporate finance partner Kevin Jones said:

“These transactions show that we have the strength and depth to advise on all types and sizes of corporate transaction, including those with an international element. We are proud to advise a full range of clients from blue chip companies to start-ups. Most importantly, this means we are well placed to support our clients as they grow their own businesses.”

Corporate finance partner Mike Jackson, who advised on both the Belvoir and Source BioScience transactions, added:

“We were delighted to have helped both Belvoir and Source BioScience achieve their growth plans. In recent months we have seen increased investor appetite for both private equity backed and publically funded acquisitions, resulting in higher transaction volumes across the team.”

Recent research from Experian show the firm acted on 17 deals across the Midlands in the first half of 2015, making Browne Jacobson the second most active corporate finance legal advisory firm in the region.