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%.
£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.
£175m 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 coincided with the inclusion of the Company into the EPRA index – a critical index for REIT investors. EPRA index inclusion is only tested annually – in order to gain entry and to leverage this to assist in this major fundraising the Company had to undertake a significant acceleration of the preparation of its first annual report and accounts.
£85m equity fundraising 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 fundraise represented the third undertaken by Akur, and comprised part of its share issuance programme, it was oversubscribed at the top end of the range, immediately following the fundraise Empiric began an accelerated programme of asset acquisitions in Leeds, Bristol, Exeter and Manchester.
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