Richard has been a Travers Smith corporate finance partner since 2003, specialising in equity capital markets and M&A.
His M&A practice is both domestic and cross-border, public and private. Richard regularly provides Takeover Code advice to quoted companies, hedge funds and PE houses, and was instrumental in setting the market norms for electronic acceptance of all UK takeovers. On ECM, Richard is routinely engaged as either issuer counsel or underwriter counsel, providing comprehensive advice on the UKLA Listing Rules, DTRs, the Prospectus Rules and the AIM Rules, as well as providing general corporate advice.
Representative work in ECM has included advising:
- Goodbody Stockbrokers UC on its successful application as an FCA-approved sponsor
- Record plc on its buy-back tender offer
- The joint underwriters and bookrunners on the £53.5 million vendor placing and concurrent £5.3 million cash placing by accesso Technology Group plc
- The bookrunner and nomad to the £46.5m cash underpinning of LTG’s takeover offer for NetDimensions
- The sponsor and bookrunner to the £94m placing and open offer by Sanne Group
- The nomad and bookrunner on the proposed £100m IPO of Petainer
The joint bookrunners on the £48m block trade in SuperGroup plc
The sponsor and underwriters to Playtech's admission to the Official List and subsequent £250m ABB placing
The sponsor and underwriter to the £126m placing and open offer by NCC Group plc
The underwriters to the IPOs of Shield Therapeutics, Easyhotel, Patisserie Valerie and Outsourcery plc
The sponsor and underwriter on the £130m placing and open offer by Telecom Plus plc
Sponsors / nomads, such as Numis, Investec, Peel Hunt, UBS, Canaccord, Liberum and Panmure Gordon on IPOs and follow-on offerings
Representative work in M&A has included advising:
ZPG plc on its up to £140 million acquisition of financial services price comparison business Money, the operator of the money.co.uk website
- Dee Valley plc on the competitive takeover offers from Severn Trent plc and Ancala
Ebury Partners on its $83m FinTech growth investment by Vitruvian partners
Cevian Capital on the £1.3bn takeover of Alent plc
Paragon Offshore plc on its $1bn demerger from Noble Corporation
Noble Corporation plc on its $9.9bn merger with Noble Corporation and re-listing on NYSE
The Innovation Group plc on its £35m acquisition of LAS Claims Management Limited
Canaccord Financial Inc on its £235m recommended cash and share offer for Collins Stewart Hawkpoint plc
Intec Telecom Systems plc on its £237m recommended cash offer by CSG Systems
Unisys on its sale of UISL to a Tata subsidiary
Hydrogen Group plc on its bid for Imprint Plc and partial offer by 3i QPE
Euroclear on its acquisition of EMXCo
Macquarie on the £1.822bn acquisition of SSP/Moto and the £166m acquisition of BBC Broadcast
Richard is ranked by Chambers UK as a leading individual for larger corporate finance deals. He is listed by the Legal 500 for both mid-market and high end M&A and for hedge fund advisory work. He sits on the Company Law Committee of the City of London Law Society.
Richard writes for Tolley's Company Law and PLC and regularly speaks at a number of external seminars.