Legal business DWF has advised Investec Bank plc in relation to a £17m placing by AIM listed interior furnishings group Walker Greenbank plc.
The firm’s London-based corporate team advised Investec, which acted as nominated adviser and broker to Walker Greenbank, in a transaction that will allow the furnishings company to fund its strategic acquisition of UK-headquartered fabrics distributor Clarke & Clarke.
The initial consideration is £25m with £17m being funded through the placing and the remaining £8m to be financed through drawdown under Walker Greenbank’s existing bank facilities and cash resources. Clarke & Clarke has a consistent record of growth which is expected to deliver material financial benefits to Walker Greenbank within the first full financial year. The placing is being underwritten by Investec.
DWF’s legal team was led by Head of Corporate in London Matthew Doughty along with corporate director Lisa Stavropoulos and solicitors Megan Carr and Sophie Morris, with support from partner Jon Stevens in the firm’s tax team.
Matthew Doughty comments: “We were delighted to advise Investec on this transaction and to help them achieve a successful fundraise for Walker Greenbank. We are making a significant investment in growing our London team and we are pleased that the market is recognising that. We have a strong pipeline of deals due to complete before the end of the year.”
DWF’s 180-strong national corporate practice is consistently ranked one of the most active in the UK.