Addleshaw Goddard advises ClearStar on $35m initial public offering

Addleshaw Goddard advised new client ClearStar on its admission to trading on the Alternative Investment Market (AIM), effective from 11 July 2014.

The AIM float gives ClearStar a market capitalisation of $35m (£20m) and raised $15m for the company, with Cenkos acting as nominated adviser.

ClearStar provides consumer-focused background screening services to companies. It helps businesses receive the information they need to make safe hiring decisions. The US company, based in Alpharetta, Georgia, is embarking on a British and European expansion drive.

The Addleshaw Goddard team was led by corporate finance partner Charles Penney and included Simon Wood, Kieran Rafter, Louise Pritchard and Graham Price.

Cenkos was advised by Dorsey & Whitney. Sutherland Asbill & Brennan advised ClearStar on the US aspects of the deal, and Maples and Calder advised on Cayman Islands law.