Zeus acted as Nominated Adviser and Joint Bookrunner to Strix Group plc in raising £8.7 million by way of an equity placing

Zeus acted as Nominated Adviser and Joint Bookrunner to Strix Group plc in raising £8.7 million by way of an equity placing.

Strix Group plc, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

As stated at the preliminary results presentation in March/April 2024, it is the Company’s intention to begin a full refinance of its banking facilities in 2025 to help advance the Group’s growth aspirations, supported by an expected FY 2024 net debt leverage of less than 2.0x. The placing will facilitate that leverage reduction happening 4-6 months earlier than anticipated, securing an associated interest saving benefit due to the margin ratchet mechanism contained within the current facilities.

Members of the Zeus team included: Nick Cowles, Jordan Warburton, Louisa Waddell and John Moran (Investment Banking); Dominic King (Corporate Broking).

This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.