Osborne Clarke advises Arden Partners and Berenberg Bank on Anexo placing and secondary sell down

Written on 29 May 2020

International legal practice Osborne Clarke has advised Arden Partners plc and Joh. Berenberg, Gossler & Co. KG, London Branch, on a £11 million placing and secondary sell down placing for AIM-quoted Anexo Group plc, the integrated credit hire and legal services group.   

The net proceeds of the primary placing of approximately £7.5 million will be used for, amongst other things, to expand the advocacy and specialist litigation team with specific emphasis on funding the acquisition and processing of VW emissions cases, to invest further in order to reposition fleet numbers towards end of 2018 levels and to strengthen the balance sheet in order to take advantage of other near-term opportunities, including potential acquisitions of WIP books and small legal and credit hire firms.

The secondary placing, on behalf of two founders and another substantial shareholder, raised approximately £3.5 million before expenses.

Arden Partners plc acted as nominated adviser and joint bookrunner and Joh. Berenberg, Gossler & Co. KG, London Branch acted as joint bookrunner, in connection with the transaction.

The Osborne Clarke team that advised Arden Partners and Berenberg on the transaction was led by Partner Jonathan King who was assisted by Senior Associate Ed Nisbet and Associates Stuart Miller and Oliver Woods.

Osborne Clarke advises market leaders, challenger brands and fast-growth businesses in the financial services sector across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.