International law firm Bird & Bird has advised Joh. Berenberg Gossler & Co KG, London branch (“Berenberg”) and Grant Thornton UK LLP (“Grant Thornton”) on the successful initial public offering (“IPO") of Supreme plc, the Manchester-based leading manufacturer, supplier and brand owner of fast-moving consumer products. The IPO will enable Supreme to execute on its growth strategy, raise its profile and provide the ability to incentivise key employees.
The Bird & Bird team advised Berenberg and Grant Thornton in connection with the admission to AIM of Supreme, the first AIM IPO of the year, and a placing of new and existing shares at 134 pence per share with institutional investors, to raise gross proceeds of approximately £60 million for existing shareholders and £7.5 million for the company. Supreme has joined the AIM market today with a market capitalisation on admission of approximately £156 million.
The team was led by partner Adam Carling (Corporate, London) with support from Freddie Spearman and Sharon O’Donnell (Corporate, London) and regulatory specialists Sally Shorthose (Partner, IP, London) and Pieter Erasmus (IP, London).
Adam Carling, Corporate partner at Bird & Bird says: "We have advised Berenberg and Grant Thornton in connection with this substantial AIM IPO which was oversubscribed despite the challenging conditions posed by the COVID-19 lockdown in the UK, and which we hope will be the first of many in 2021. We have a longstanding relationship with valued clients Berenberg and Grant Thornton, and we look forward to working with them on future transactions."
Mark Whitmore, Associate Director, UK Investment Banking at Berenberg adds: “We have enjoyed working with Adam and his team on this exciting transaction. We continue to have a strong relationship with Bird & Bird, both on this deal and generally as our legal counsel and we look forward to working with them again soon.”
Berenberg are acting as Sole Global Coordinator and Broker and Grant Thornton as Nominated Adviser to Supreme.