Stephenson Harwood advises on £122m subsidiary disposal and London IPO

Stephenson Harwood has advised CSE-Global on the sale of one of its wholly owned subsidiaries, Servelec Group, for £122m.

At the same time as the sale, which completed on 2 December 2013, Servelec was admitted to the Official List and to trading on the premium segment of the main market of the London Stock Exchange.

Servelec’s market capitalisation on admission was £122m. Stephenson Harwood advised CSE-Global, Walker Morris advised Servelec and Investec Bank acted as sponsor, financial adviser, sole bookrunner and broker to CSE-Global.

The Stephenson Harwood team was led by Singapore corporate finance partner Matthew Gorman, with associate Emma Nicholls assisting.