At Cenkos we put the client at the heart of everything we do. We are passionate about providing the best advice and execution to our clients, helping them achieve their goals. These may include:
- access to capital through an IPO or a follow-on fundraising
- a broader shareholder register to enhance liquidity and support corporate activity
- liquidity for early stage investors
- a strong and stable share price with positive momentum
- M&A including takeover/Rule 3 advice
Restore PLC – Building a National Leader
Restore has grown rapidly over the last six years to become the UK’s leading provider of office services. Its biggest business is records management – the storage of hard-copy documents – where it has actively consolidated its sector through acquisitions to become the second biggest operator behind Iron Mountain of the US. At the same time, Restore has broadened the range of services it provides to encompass secure document shredding, scanning, IT recycling and office relocations – its Harrow Green business is the UK industry leader.
Cenkos was appointed Nomad and broker to Restore in 2009 to support the Company on its ambitious buy and build strategy. A buy and build investment story requires strong valuation and access to capital through a wide institutional shareholder base. Cenkos has helped Restore create a blue chip institutional investor base who have supported the Company in fundraisings totaling £75 million in 7 transactions to fund 22 acquisitions. Restore’s stock market value has risen from £8 million in 2010 to around £400 million today.
Charles Skinner, chief executive, says: “One of our key aims has been to build a truly national network, so that we are able to offer customers with a national presence the opportunity to consolidate their supplier base. Moreover, our services are inter-related, with a similar channel to market – the IT and facilities managers responsible for keeping the workplace running smoothly. Not only do we benefit from very long-standing customer relationships, particularly in records management, but we increasingly have the opportunity to sell our clients our full service offering”.
Finsbury Food Group
Finsbury Foods is a leading speciality bakery manufacturer, producing a range of cakes, bread and bakery snack products for the major UK retailers and the foodservice channel. Its brands include Thorntons, Vogel’s, Disney and Weight Watchers.
Finsbury’s growth strategy includes a combination of organic growth and targeted acquisitions. Cenkos was appointed in July 2012 as a broker and Nomad with the goal to strengthen the company’s shareholder register and achieve a strong rating to support its growth strategy. In 2014 Finsbury saw the opportunity to acquire Fletcher’s Group. This was an ambitious transaction representing a reverse takeover and requiring a £40 million fundraise and a re-admission to the AIM Market.
A transaction such as the reverse acquisition of Fletchers brings together a number of Cenkos’ capabilities to deliver a one-stop solution and efficient execution. Cenkos’ fundraising track record was critical in giving the Board of Fletchers confidence that the transaction could be delivered. In addition, close coordination between the corporate finance, sales and broking and research teams at Cenkos was fundamental in achieving a successful outcome.