BDB Pitmans supports Arden and Allenby with £4.7million fundraising for The Ince Group plc
BDB Pitmans’ corporate team has advised existing clients, Arden Partners Plc (Arden) and Allenby Capital Limited (Allenby), in relation to a placing and retail offer by The Ince Group plc (Ince) to raise £4.7 million (fundraising).
The fundraising, which completed on 30 November, was carried out by means of an accelerated bookbuild by Arden, as broker to Ince, to institutional and other investors and offers to retail and other investors via the Rex platform. Allenby acted as nominated adviser to Ince in relation to the Fundraising.
The net proceeds of the fundraising will be used to invest in Ince’s core legal services business, following recent management and structural changes and to enhance opportunities for growth and further legal practice development. This will include modernising IT systems to enable operational efficiencies to be obtained; investing in lateral hire recruitment and marketing; and accelerating deferred remuneration payments to partners.
Andrew McGlashan commented: “The corporate team is delighted to continue to work with our long-standing client Arden Partners Plc together with Allenby Capital Limited as they both continue to provide high level services for their clients.”
Joint Head of Corporate Finance at Arden, John Llewellyn-Lloyd, concluded: “It has been a pleasure to work with BDB Pitmans once more. The corporate team continue to set the standard for excellent client service and offer valuable commercial and market-led insights.”