Zeus Capital acts on behalf of Likewise Group plc (LIKE) on its £7.5m secondary raise on TISE
30 Apr 2019
Household Goods & Home Construction
Zeus Capital acted as Financial Adviser and Joint Broker to Likewise Group plc (”Likewise”) in connection with its £10.0 million reverse takeover of Heatseam Limited (“Heatseam”) and £7.5 million placing and introduction on The International Stock Exchange (“TISE”). Likewise listed on TISE on 11 January 2019 raising gross proceeds of £7.0 million.
Likewise is a distributor of floorcoverings and matting and is led by CEO Tony Brewer. Tony was CEO of Headlam Group plc for 16 years between 2000 and 2016 and prior to that ran the flooring division for 8 years. Likewise has the opportunity to consolidate the domestic and commercial floor-covering markets to develop an alternative to larger industry competitors.
Likewise has raised gross proceeds of £7.5 million. These proceeds will be used to part fund the acquisition of Heatseam and to provide general working capital for growth.
Likewise re-admitted to trading on 18 April 2019 with a market capitalisation (based on the placing price of 25 pence) of £38.0 million. Further information can be found here.
Zeus Capital is one of the leading advisers to small and mid-cap listed companies by IPO funds raised. In 2019, Zeus Capital has been acting on over a dozen deals, including a mix of interesting private and public deals reflecting the fact that our professionals are now evenly split between public and private markets.
“Consistent with our stated strategy when initially listing on TISE in January 2019 the acquisition of Heatseam gives Likewise scale and a distribution infrastructure to develop a meaningful floor covering business in both the residential and commercial markets. We plan further acquisitions to augment the intended organic growth in UK flooring distribution. Zeus has again provided a great level of support on this transaction and we look forward to continuing our strong relationship
Tony Brewer, CEO, Likewise”
”It has been a pleasure to assist Tony with the acquisition of Heatseam so soon after the IPO and it is great to see Likewise executing its strategy on The International Stock Exchange.
John Goold, CEO, Zeus Capital”
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.