SimplyBiz, the business support company founded by the chairman of the Huddersfield Giants and life president of Huddersfield Town, has completed its £130m listing on the London Stock Exchange, raising £65m.
The IPO raised £30m from an institutional placing of ordinary shares at 170p and £34.6m for selling shareholders.
SimplyBiz is the UK’s leading provider of compliance and business services to directly authorised financial advisers and supports around 3,500 customers. It employs more than 200 staff and has a membership base in excess of 6,000. Over this period, revenues have grown from £12m to £44m with profits increasing by 17% to £4.8m in 2017.
Eversheds Sutherland has advised SimplyBiz on the deal with a team led by Corporate Partner Alison Starr (picture) and Corporate Associates Russell Naglis and Tom Howell. The corporate team was supported by: Partners Mathew Gorringe (employee share schemes), Jason Wurzal (banking) and Andrew Henderson (financial services), Legal Director Louise Lightfoot (employment), Senior Associate James Dunlop (financial services), Associate Thomas Donohoe (banking) and Associate Charlotte Nasey (employment).
Involved fees earner: Alison Starr – Eversheds Sutherland; Russell Naglis – Eversheds Sutherland; Tom Howell – Eversheds Sutherland; Mathew Gorringe – Eversheds Sutherland; Louise Lightfoot – Eversheds Sutherland; Charlotte Nasey – Eversheds Sutherland; Andrew Henderson – Eversheds Sutherland; Jason Wurzal – Eversheds Sutherland; James Dunlop – Eversheds Sutherland; Thomas Donohoe – Eversheds Sutherland;
Law Firms: Eversheds Sutherland;
Clients: Simplybiz Group Plc;