Hayward Tyler Group plc is a leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments. Core markets for the group include: oil & gas exploration; power generation – both conventional and nuclear; and the chemical/industrials sector. With facilities in the UK, US, China and India, the Group has a proven reputation for providing innovative, reliable technological solutions built on a proud heritage stretching back over 200 years.
Hayward Tyler has been advised by Akur since its London IPO (by reverse takeover) in January 2010. This is the fourth major deal Akur has advised on, overseeing the company’s growth both organically and by acquisition throughout the period.
About the transaction:
Akur acted as exclusive financial adviser to Hayward Tyler on its acquisition of the trade and assets of the Peter Brotherhood business from Dresser-Rand Company Ltd, a Siemens AG owned business for $15m, payable wholly in cash from a new facility provided by RBS.
Peter Brotherhood is a UK engineering business specialising in steam turbines and a variety of power and efficiency technology for the power generation, oil and gas and marine markets.
The acquisition is immediately earnings enhancing, and sees Hayward Tyler’s scale, number of customers, orders, and thus diversity growing substantially.
In the few days following announcement the Hayward Tyler share price rose by over 15%.
£75m equity fundraise on the London Stock Exchange
About the client:
Empiric Student Property plc is an internally managed real estate investment trust (“REIT”) investing in modern, direct-let, premium student accommodation, both standing and development assets, with a focus on quality and with assets in prime central locations in top university cities and towns in the UK.
About the transaction:
This, the fourth equity fundraise for Empiric since Akur led its IPO in June 2014, was significantly oversubscribed at the upper level of the range. A roadshow took place over four weeks and new shareholders in this raise included Asset Value Investors, it took the Company’s market capitalisation above £300m. Immediately prior to this fundraise Empiric joined the FTSE All Share index.
Almor is a niche online casino operator whose principal brands sunmaker, sunnyplayer and kingplayer have established a strong position in their core German-speaking markets since the business launched in 2011, offering a large range of online casino games as well as a sportsbook. The business generated earnings of €1.2 million from net gaming revenue of €11.1 million in 2014 and recorded over 55,000 active customers in the first 5 months of 2015.
About the transaction:
Akur advised Almor in the sale of 71% of the business to Cherry AB (a Swedish listed provider of gaming activities with a 50 year operating history). Akur had a central role in the origination, negotiation and final execution of the deal.
Fredrik Burvall, President and CEO of Cherry, commented: “The deal gives Cherry a larger and more significant presence in continental Europe, contributing positively to both our margins and our growth prospects.”
Alexander Knopf, director of Almor, added: “We are delighted to be joining Cherry, whom we believe to be the ideal partner for Almor to continue its remarkable growth. We are grateful to the Akur team for their vital role in bringing this transaction together. From the early stages of identifying and introducing potential partners through to structuring and finalising the deal with Cherry, we have been impressed by Akur’s sector expertise and professionalism throughout the process.”
£54m equity fundraising on the London Stock Exchange
About the client:
Tritax Big Box is a leader in UK Big Box real estate investment and is the first listed entity to give pure exposure to the Big Box asset class in the UK – advised by Akur since 2012
About the transaction:
This fundraise was the final piece of the Company’s share issuance programme, following this successful raise the Company’s market capitalisation now comfortably exceeds £800m. This fundraise also coincided with the entry of the Company into the FTSE250. The funds allowed the company to continue to invest in its target assets across the UK.
This transaction represents the sixth since Akur led the IPO of the Company in December 2013.
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