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Richard Spedding

Monday, 10 December 2018
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Richard Spedding

Corporate Finance: ECM and M&A
richard.spedding@traverssmith.com
+44 (0)20 7295 3284
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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:

  • The joint bookrunners on the placing to fund the £61.4 million acquisition of MeetingZone by LoopUp
  • The sponsor and bookrunner on the £31 million placing and open offer by Norcros plc 
  • The underwriters to the IPOs of Shield Therapeutics, Easyhotel, Patisserie Valerie and Outsourcery plc
  • Record plc on its buy-back tender offer
  • The joint underwriters and bookrunners on the £53.5 million vendor placing and concurrent cash placing by accesso Technology Group plc
  • The bookrunner and nomad to the £46.5 million cash underpinning of LTG’s takeover offer for NetDimensions 
  • The sponsor and bookrunner to the £94 million placing and open offer by Sanne Group
  • The nomad and bookrunner on the proposed £100 million IPO of Petainer
  • The joint bookrunners on the £48 million block trade in SuperGroup plc
  • The sponsor and underwriters to Playtech's admission to the Official List and subsequent £250 million ABB placing
  • The sponsor and underwriter to the £126 million placing and open offer by NCC Group plc
  • The sponsor and underwriter on the £130 million 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 other follow-on offerings

Representative work in M&A has included advising: 

  • Cash confirming banks on the Comcast/Sky, Montagu/Servelec and various other public takeovers

  • 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 $83 million FinTech growth investment by Vitruvian partners

  • Cevian Capital on the £1.3 billion takeover of Alent plc

  • Paragon Offshore plc on its $1 billion demerger from Noble Corporation

  • Noble Corporation plc on its $9.9 billion merger with Noble Corporation and re-listing on NYSE

  • The Innovation Group plc on its £35 million acquisition of LAS Claims Management Limited

  • Canaccord Financial Inc on its £235 million recommended cash and share offer for Collins Stewart Hawkpoint plc

  • Intec Telecom Systems plc on its £237 million 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 £1.822 billion 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.

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