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Published 20 July 2021
International law firm DAC Beachcroft is pleased to have advised Lords Group Trading plc (“the Company”) on its admission to AIM. The initial public offering (IPO) raised £52m for the Company and existing shareholders, giving it a market capitalisation at admission of £150m. Commencement of dealings took place at 8.00am this morning (20 July 2021).
Lords Group is a specialist distributor of building, plumbing, heating and DIY goods. It principally sells to local tradesmen, small to medium-sized plumbing and heating merchants, construction companies and retails directly to the general public.
Clive Garston, who led the DAC Beachcroft team advising Lords Group, said, “I am delighted to have been able to help Lords with its IPO and I am sure that the company will grow from strength to strength under the leadership and direction of Shanker Patel. The construction industry is growing at its fastest pace for 24 years; it’s in a healthy position and companies like Lords Group are crucial to supporting that trajectory.”
“It’s a natural time for Lords to capitalise on their success and look to the horizon. The capital injection this IPO has created will help them realise their aim of £500m turnover by 2024.”
The DAC Beachcroft team that advised Lords Group was led by Clive Garston, supported by Michelle Jones, Aleks King-Sorrell and Yee Rou Quah on corporate matters, real estate by Liz Donnelly and Adam Tait and banking by Chris Wall and Toby Hewitt.