Independent investment bank Zeus Capital is the nominated adviser (NOMAD) and sole broker to financial advisory business Tatton Asset Management which has just announced its intention to float on London’s Alternative Investment Market (AIM).
Tatton, which is expected to be valued at £87m, will raise more than £50m from two institutional placings.
It was founded in 2007 and from its base in Wilmslow, provides a range of services to the FCA authorised financial adviser marketplace. In the year to 31st March 2017, it achieved revenues of £11.9m and an operating profit of £5.5m.
The float, which sees a partial exit for the existing shareholders, will provide Tatton with access to the capital markets to aid future growth. The institutional placings result in 63.5% of the company shares being held in public hands on admission.
Tatton Asset Management plc will be formally admitted to the London Stock Exchange on 6 July 2017.
The Zeus Capital team advising Tatton Asset Management consisted of director of corporate finance Dan Bate, co-heads of financial institutions Martin Green and Mike Cuthbert, chief executive John Goold and director of corporate finance Pippa Underwood.
Director of corporate finance at Zeus Capital Dan Bate said: “Through its three specialist advisory businesses, Tatton Asset Management has demonstrated the ability to achieve strong and consistent levels of growth, cornering a strong market share in all three divisions. This performance, as well as its low capital requirements, means it represents an attractive option to investors, who always value reliable and sustainable business models. We look forward to continuing our work with the existing shareholders as Tatton begins its life as a public company.”
Zeus is an independent investment banking boutique which provides advisory and fundraising services across public, private and trade transactions. It was established in 2003 and clients include public and privately owned companies, along with key players in the private equity community.