Osborne Clarke advises Berenberg Bank on Shearwater placing

Written on 24 April 2020

International legal practice Osborne Clarke has advised Joh. Berenberg, Gossler & Co. KG, London branch, on a placing for AIM-quoted Shearwater Group plc, the organisational resilience technology group.  The placing was launched this morning (24 April 2020) and again used a cashbox structure to reduce the timeframe to closing and mitigate execution risk in these uncertain times.

The net proceeds of the placing will improve the Shearwater’s liquidity position and, together with a new revolving credit facility, provide funds for further acquisitions as part of Shearwater’s ongoing buy-and-build strategy.

Berenberg acted as sole bookrunner in connection with the Placing.  Cenkos Securities plc acted as Nominated Adviser.

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

This is the second announced equity fundraising the team has worked on this week and the sixth since the beginning of the COVID-19 related lockdown in the UK.

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.