Travers Smith acted for Durlacher Limited, the nominated adviser and broker to Cello Group Plc on its £26m AIM IPO. Admission and trading on AIM is expected to take place on 9 November 2004.
Cello was incorporated to acquire three UK marketing services companies as the first step in its strategy to build a high quality diversified marketing services group.
David Adams commented: "The acquisition structure adopted in this transaction is similar to that used in "accelerated IPOs" whereby the cash consideration payable for the acquisitions is generated by the IPO and completion of the acquisitions is conditional on admission to AIM."
This is Travers Smith's first instruction from Durlacher.