07 Nov 2012
Zeus Capital, the Manchester and London based Corporate Finance advisory firm has announced 2 public transactions in 1 day. The Admission to AIM and the Sale of the core business of an AIM listed client were announced on Tuesday.
Armscote Investment Company PLC, the ISDX listed company has agreed to acquire Venn Life Sciences Limited for £2.88million and will be admitted to trading on AIM. On admission the market capitalisation will be £6million and the Company will be renamed Venn Life Sciences Holdings Plc. A £2.5million placing and a £0.5million vendor placing has also been completed.
Venn Life Sciences is a Clinical Research Organisation (“CRO”) providing a suite of consulting and clinical trial services to pharmaceutical, biotechnology and medical device organisations and having operations in France, the Netherlands and Ireland, with a branch office in Switzerland. The Venn Group also includes a Clinical Resourcing business based in France. The Company’s near term objective is the expansion of its coverage to other European countries through strategic acquisitions thus combining a number of small European CROs to build a mid-sized CRO focused on the European market, offering clients a full service, multi-centred capability in Phase II-IV trials and across a range of principal disease areas.
The Deal Team comprised of Ross Andrews, Andrew Jones and Jamie Peel, with John Goold heading the fund with Alex Davies.
Autoclenz Holdings Plc, the Derby based outsourced car valeting and vehicle preparation services provider has entered into an agreement for the sale of the Company’s wholly owned subsidiaries Autoclenz Limited and Autoclenz Services Limited for a consideration of £4million to the Company’s existing management. The Disposal will result in the Company disposing all of its tangible operating assets and becoming an Investing Company.
The Investing Company shall now seek to acquire within this well funded clean AIM listed shell company a high growth business with a view to further increasing shareholder value.
The Deal Team comprised Nick Cowles, Andrew Jones and Jamie Peel.
Ross Andrews, Director at Zeus Capital commented:
“We are delighted to have completed these two transactions and they highlight the expertise we have in the public markets to get the best results for our clients. To get both announced on the same day is tremendous and the team has been working incredibly hard to achieve these successful outcomes. The Admission to AIM of Venn Life Sciences if the 4th listing to the AIM Market Zeus has completed this year.”