Nabarro Nathanson has won Numis as a client, after advising the broker on the unusual demerger and AIM listing of Moneybox.
Corporate partner Iain Newman led on the deal which saw Moneybox demerge from parent company Ambient, raise £47m in an AIM listing and then spend the money on expansion with the acquisition of G2 Limited. Newman said: “It was a partial demerger by a scheme of arrangement – of which there aren’t too many.”
The G2 acquisition gives Moneybox, Europe’s biggest cash machine operator, a market capitalisation of £100m.
Newman’s technology focused AIM practice was quiet last year after the highs of the dotcom boom. In The Lawyer’s 2001 AIM survey, the firm managed 13 floats, but did just four in the 18 months covered by the 2003 survey.
However, last week Newman closed two other AIM deals for longstanding clients Collins Stewart and KBC Peel Hunt. Peel Hunt advised Offshore HydroCarbon Mapping on its admission to AIM and £13m rights issue, while Collins Stewart advised BioProgress Plc on an £11m fundraising.
Newman and Nabarros continue to advise Collins Stewart on the auction for The Telegraph.