Zeus Capital acted as Financial Adviser to Likewise Group plc on its £12m IPO

Zeus Capital

Zeus Capital acted as Financial Adviser to Likewise Group plc (LIKE) in connection with its admission to trading on The International Stock Exchange and associated £7.0 million subscription.

Likewise is a distributor of floorcoverings and matting and is led by CEO Tony Brewer, the former CEO of Headlam Group plc for 16 years, and has the opportunity to consolidate the domestic and commercial floorcovering markets to develop an alternative to larger industry competitors.

The company was admitted to trading on 11 January 2019 with a market capitalisation (based on the issue price of 10 pence) of £12.0 million. Further information can be found here.

Likewise has raised net proceeds of approximately £6.5 million. These proceeds will be used for acquisitions and to provide general working capital for growth. Likewise intends to utilise the expertise and industry knowledge of its plc, executive and advisory boards to deliver organic growth, operational leverage and, where desirable, execute strategic acquisitions.

Zeus Capital is one of the leading advisers to small and mid-cap listed companies by IPO funds raised. In 2018, Zeus Capital has acted on IPOs and secondary transactions for 12 listed companies: those transactions were valued at over £700m for companies listed on both the LSE Main Market and AIM.

The IPO is a fantastic opportunity for Likewise, providing us with access to the capital markets, as we look to deliver future growth both organically and through our targeted acquisition strategy. Zeus provided an outstanding level of support on our IPO and we look forward to continuing our strong relationship as we begin an exciting life as a plc. – Tony Brewer, CEO, Likewise Group

Having worked with Tony for 20 years and seen him create significant value for his investors we are very excited about helping him and his team at the start of their next journey. – John Goold, CEO, Zeus Capital

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