Inspecs Group plc’s £140 Million IPO

Macfarlanes and Hughes Hubbard & Reed LLP have advised Inspecs Group plc on its IPO on the London Stock Exchange’s AIM market. Travers Smith LLP has advised Peel Hunt LLP as nominated adviser, broker and sole bookrunner.

The transaction values the company at approximately £140m and raises new gross proceeds for the company of approximately £24m as well as allowing existing shareholders to realise gross proceeds of approximately £70m.

Macfarlanes has also advised Inspecs on a new revolving credit facility of $25m provided by HSBC in connection with the IPO.

Inspecs is a designer, manufacturer and distributor of eyewear frames.

The transaction was led by Macfarlanes corporate M&A partner Harry Coghill (Picture), with assistance from senior counsel Mark Slade and solicitors James Wilkes and Tim Wickenden. Commercial advice was provided by partner Will Hedges and solicitor Giles Neoh. Advice on the financing aspects came from partner Jat Bains and solicitor Valery Nformba and tax expertise was provided by partner Jeremy Moncrieff and senior solicitor Laura Foley. Partner Rob Collard and senior counsel Rasmus Berglund provided management incentive input.

Hughes Hubbard & Reed LLP acted as U.S. counsel to the company on the deal with a team includes partner Gary Simon and associates David Cohen and Samuel Hurt.

Corporate partner Philip Cheveley led the Travers Smith team, assisted by Corporate Senior Associate Tom Coulter and Corporate Associate Tom Gubbins.

Involved fees earner: David Cohen – Hughes Hubbard & Reed; Samuel Hurt – Hughes Hubbard & Reed; Gary Simon – Hughes Hubbard & Reed; Jat Bains – Macfarlanes LLP; Rasmus Berglund – Macfarlanes LLP; Harry Coghill – Macfarlanes LLP; Robert Collard – Macfarlanes LLP; Laura Foley – Macfarlanes LLP; Will Hedges – Macfarlanes LLP; Jeremy Moncrieff – Macfarlanes LLP; Giles Neoh – Macfarlanes LLP; Valery Nformba – Macfarlanes LLP; Mark Slade – Macfarlanes LLP; Tim Wickenden – Macfarlanes LLP; James Wilkes – Macfarlanes LLP; Philip Cheveley – Travers Smith; Tom Coulter – Travers Smith; Tom Gubbins – Travers Smith;

Law Firms: Hughes Hubbard & Reed; Macfarlanes LLP; Travers Smith;

Clients: Inspecs; Peel Hunt;