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Zeus acted as Nominated Adviser and Joint Broker to Likewise Group on its £10m AIM IPO

Zeus is delighted to have acted as Nominated Adviser and Joint Broker to Likewise Group plc on its Initial Public Offering (IPO) on AIM, raising £10 million, achieving a market capitalisation of £48.1 million.

Company information

Likewise is a UK distributor of both domestic and commercial floorcoverings and matting. It is challenging the established competitors in the industry by providing access to a wide choice of flooring from multiple manufacturers across the globe at competitive prices for its customers. The Directors believe they have an opportunity to build a business of national scale and over time become a strong alternative to the current larger industry competitors within the sector. Likewise has a history of delivering organic growth as well as acquiring and successfully integrating complementary businesses which expand the Group’s product offering and / or geographic presence.

This deal is the next phase of Likewise’s evolution, having previously listed on The International Stock Exchange in January 2019 with a market capitalisation of £12 million and completed a number of acquisitions, including the £10 million reverse takeover of Heatseam Limited. To continue its growth, the group has raised gross proceeds of £10 million, which will be used to provide working capital for growth, settle deferred consideration and provide additional resources should a strategic acquisition be identified.

Zeus team

Members of the Zeus team included: Jordan Warburton, David Foreman, James Edis and Guy Brinkley (Corporate Finance); John Goold, Dominic King, Emma Ayton and Victoria Ayton (Corporate Broking); and Andy Hanson (Equity Research).

Zeus will continue to advise Likewise as their retained Nominated Adviser and Broker.

Tony Brewer

CEO, Likewise

“The IPO on AIM is a key next step in the Likewise journey, providing us with further access to the capital markets as we look to deliver future growth both organically and through our targeted acquisition strategy. Zeus has provided an outstanding level of support over the last 3 years and we look forward to continuing our strong relationship as we begin an exciting life on AIM.”

Jordan Warburton

Director of Corporate Finance, Zeus

It has been a pleasure advising Tony and the team over the last three years, with Likewise’s AIM IPO being the next key milestone in executing its strategy. We are very much looking forward to continue to support the Company on its journey and working together to build value for all stakeholders.

Contact

If you would like further information, please get in touch with our team.

Jordan Warburton Director of Corporate Finance Scan with your phone camera to add to contacts Download vCard
Victoria Ayton Director of Corporate Broking Scan with your phone camera to add to contacts Download vCard

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