Acertec plc

Canaccord Genuity advised Acertec on its flotation on AIM. At the Placing Price, Acertec will have a market capitalisation of £76mlion and an Enterprise Value of £126mlion. The listing raised £57mlion of new money via a placing at 148p per ordinary share with institutional investors.

Funds raised by the placing were to be used to repay Candover loan notes, as well as to pay certain management bonuses and IPO related costs. The IPO price represents a multiple of 8x proforma 2006 earnings. Post IPO, Candover retains approximately 20 per cent. of the issued share capital.

Acertec is one of the UK's leading manufacturers of engineered steel products for use in the automotive and construction markets, operating under two industry leading brands, Stadco and BRC. The company has been a long-standing client of Canaccord Genuity'since it was formed through the take-private of Hall Engineering plc in 1999, backed by Candover, a leading European private equity house.

Canaccord Genuity acted as Nominated Advisor to Acertec plc.