£200m equity fundraising on the London Stock Exchange
About the client:
Tritax EuroBox is a listed UK Investment Trust, investing into European logistics assets, benefiting from the rise in online retail
About the transaction:
A follow-on equity capital raise to support the acquisitions of a new pipeline of assets – an oversubscribed transaction. The transaction also included the establishment of 12 month placing programme for up to a further 300m shares to be issued.
£55m equity fundraising on the London Stock Exchange
About the client:
Triple Point Social Housing REIT plc, is a listed UK REIT, investing in UK social housing assets, focused on supported housing
About the transaction:
A follow-on equity capital raise to support the acquisition of a key pipeline of assets. The transaction also included the establishment of 12 month placing programme to enable up to a further c.£150m of equity to be issued.
Triple Point Energy Efficiency Infrastructure Company plc (“TEEC”)
Date:
October 2020
Deal:
IPO, raising £100m on the London Stock Exchange
About the client:
TEEC is a new listed closed-ended fund investing in energy efficiency infrastructure projects in the UK. Energy efficiency as a sector has been underinvested relative to renewable energy funds and this successful IPO seeks to address this imbalance.
TEEC is investing in a range of critical energy efficiency projects across the UK including low carbon heat networks, the retrofit of social housing assets, and distributed generation.
About the transaction:
Akur acted as exclusive independent financial adviser to TEEC on its successful IPO
Jonathan Parr, Partner at Triple Point said:
“From origination through structuring, and to completion, Akur has worked very closely with the team in delivering this milestone IPO, Akur was a key part of the process to unlock this transformational project.”
£250m equity fundraising and associated £370m acquisition of db Symmetry
About the client:
Tritax Big Box REIT is a leader in the UK and the first listed entity to give pure exposure to the Big Box asset class
About the transaction:
The fundraise (which was significantly over-subscribed) was conducted to fund the acquisition of db Symmetry, a Big Box developer with a total land portfolio of over 2,500 acres which is estimated to be able to deliver over 38m sq. ft. of new Big Box and logistics assets in the UK.
The portfolio is expected to contribute materially to the Company’s ability to continue to deliver strong earnings growth, the assets are targeting an average yield on cost of 7-8%, whereas at the time of acquisition the Company’s valuation yield was 4.4%.
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