Volution Group, £61m Share Sale, UK


STJ advised on a £61m placement via accelerated bookbuild in UK ventilation product supplier Volution Group plc, representing 19% of the company, on behalf of major shareholder Towerbrook (STJ also advised on the Company’s IPO last year). STJ advised Towerbrook throughout the execution process providing tactical advice on timetable, sell-down strategy / offer structure, communication with the banks allowing Towerbrook to have good visibility on potential feasibility of a follow-on and demand prior to sale. The offer was upsized from 32 to 38 million shares, the placement price of 160p per share was at a small premium to the market price of 159.5p and at a 7% premium to the IPO price.

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