Zeus acted as Joint Financial Adviser, Joint Broker and Nomad to Strix Group on its £38m conditional acquisition of Billi and the associated £13m placing.

Members of the Zeus team included: Nick Cowles, Jordan Warburton, Jamie Peel, Matt Hogg, Ed Beddows and John Moran (Investment Banking); Dominic King (Corporate Broking); and Andy Hanson (Research).

I am delighted to have secured the conditional acquisition of Billi, which accelerates Strix’s strategy with the company and its employees being a great addition to the Group. Similarly to Strix, Billi’s products deal with filtering and heating water, but are complementary to Strix’s existing offer, providing a substantial opportunity for the group. We would like to thank the Zeus team for their unwavering support, introducing us to the Billi opportunity and ensuring the deal got over the line, especially in what has proven to be a challenging environment to execute transactions.

It was a pleasure to once again advise the Strix team on a significant cross border acquisition for the Group, representing its second major transaction while on market, following the acquisition of Laica in 2020. The addition of Billi to the Group provides Strix with further product diversity in the water filtration and boiling water appliance markets, both of which are key to Strix’s future growth plans. Delivering this deal in the current turbulent market conditions is a credit to all involved. The fundraise was well supported by existing and new shareholders, further solidifying Strix’s shares register of blue-chip institutions.

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