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Travers Smith advises on the simultaneous IPOs of 3 acquisition companies launched by Marwyn

Overview

Travers Smith LLP has advised on the simultaneous main market IPOs of 3 companies, Marwyn Acquisition Company I Limited, Marwyn Acquisition Company II Limited and Marwyn Acquisition Company III Limited on the London Stock Exchange. Each company is the latest acquisition company launched by long-standing client Marwyn.

Marwyn’s previous 11 comparable listed acquisition companies that have acquired platform businesses have gone on to make 83 subsequent transactions, delivering £4.4 billion in equity profits and an aggregate return to shareholders of 126 per cent. on invested capital as at 31 October 2020.

The award-winning Travers Smith Funds team continue to act on innovative transactions for both new and existing clients and has acted on a third of all main market IPOs in 2020.

The Travers Smith team was led by Corporate Partner and Head of Funds, Aaron Stocks, Senior Associate Rachel Potts and Associate Tom Rooney.

Aaron Stocks commented: "These new vehicles for Marwyn are the culmination of over a year's work hand-in-hand with our client unpicking the various issues with US SPACs and UK cash shells and solving them in an innovative way to create a new model for utilising public companies on the London Stock Exchange to revolutionise the IPO market, provide a faster route to complete competitive M&A deals and unrivalled flexibility to fund PIPE transactions."

"Our team has now completed 6 IPOs on the Main Market this year. Together we've acted on deals which have raised over £2 billion in 2020."

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