Shore Capital acts as Nomad & Joint Bookrunner to Inspired Energy on £35.0m Placing and Open Offer and acquisition of Ignite Energy
Inspired Energy, a leading consultant for energy procurement, utility cost optimisation and legislative compliance to corporate energy consumers in the UK and Ireland, has announced a £30m placing and additional £5m open offer, with Shore Capital acting as the company’s Nomad and Joint Bookrunner.
Inspired Energy has also conditionally agreed to acquire the outstanding 60 per cent of Ignite Energy Ltd not already owned by it for an initial consideration of £11m on a debt free cash free basis, following the strategic investment of an initial 40 per cent interest in August 2019.
The net proceeds of the fundraise will be used for the initial cash consideration for the acquisition of Ignite, and to provide additional financing to fund further acquisition opportunities that will accelerate the Company’s growth strategy in ESG.
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Shore Capital +44 (0) 20 7408 4090
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Adele Gilbert: +44 (0)74 8477 8331
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About Shore Capital
We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income. We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM. Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.
Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.
Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.