Pictured above: Paul Wakefield
A Midlands-based corporate law expert, who advised on the
flotation of fashion firm SuperGroup Plc, says he has been
delighted with the response from City investors.
Paul Wakefield, Partner in Corporate Law at the Midlands'
offices of law firm Irwin Mitchell, was part of a team of Midlands'
advisers who helped the group raise £120m through an offer to
institutional investors, with a further £5m coming from
smaller investors.
The deal for the Cheltenham-based firm, which owns high profile
fashion brand Superdry, was hailed a success after being
over-subscribed and saw shares rise on initial trading.
And Wakefield, who worked on the deal alongside assistant Lydia
Michaelson-Yeates, said he was pleased to have been part of the
team helping the fast-growing business move to the next stage in
its development.
"This is a fantastic achievement for SuperGroup," he said. "I am
delighted that the markets have responded to the offer and
recognized the value in a business that has defied the economic
turmoil and continued to march forwards with strong sales and
continuing growth..
"At Irwin Mitchell, we were delighted to be part of a team of
Midlands' advisers that were asked to help the founder members of
the business re-structure their interests and ensure the business
was ready for its admission to the Main Market.
"A lot of work was required to be done in a very compressed
timetable and we are delighted that everything was achieved as
planned and culminated with this week's successful admission."
Alongside the fashionable Superdry label, SuperGroup has created
and developed a number of brands, including retail store Cult. It
has Superdry concessions in 54 House of Fraser stores across the
country, a UK and international wholesale offering, franchises and
a fully transactional online channel.