Transactions

Sophos Group plc’s initial public offering

Date Announced:
06/26/2015

client:
Sophos Group plc

Status:
Closed – 06/2015

Value:
£1 billion Read the case study

Exclusive Financial Advisor to Sophos Group plc (and Funds Advised by Apax Partners LLP) on their £405 million Initial Public Offering, giving Sophos Group plc a market capitalisation of £1.0 billion

On June 26, 2015, Sophos Group plc (“Sophos”), a global provider of cloud-enabled end-user and network security solutions focused on the small and mid-market segment, announced the successful pricing of its initial public offering when it listed on the London Stock Exchange at 225 pence per share. After the greenshoe option was exercised, a total of £405 million proceeds were raised, giving Sophos a market capitalisation of £1.0 billion upon listing. This transaction represented the largest UK software IPO in history at that time. Moelis & Company was mandated by Sophos to act as its exclusive financial advisor in connection with the IPO.

Moelis & Company led Sophos through the entire transaction, providing critical advice on matters such as syndicate structure, positioning and pricing. Due to the relative lack of software security companies listed in Europe at the time, Sophos was considered a scarce asset in that region. As a result, Moelis & Company’s advice to list in London, rather than the U.S., allowed Sophos to achieve a premium valuation from European investors. This resulted in an extremely high-quality order book, which was aligned with Sophos’ interests for the future.

Sophos performed strongly in the public markets following the IPO. Given the ongoing momentum in the share price, funds advised by Apax Partners LLP decided to reduce their holding in Sophos via a £159 million accelerated bookbuild offering, completed on December 1, 2015. Moelis & Company was the exclusive financial advisor to the funds advised by Apax Partners LLP on this transaction as well.

STERIS Corporation’s acquisition of General Econopak, Inc.

Date Announced:
06/24/2015

client:
STERIS Corporation

Status:
Closed – 07/2015

Value:
$175 million

Dermalogica, Inc’s sale to Unilever PLC

Date Announced:
06/24/2015

client:
Dermalogica, Inc

Status:
Closed – 08/2015

Value:
Undisclosed

Martha Stewart Living Omnimedia, Inc.’s sale to Sequential Brands Group, Inc.

Date Announced:
06/22/2015

client:
Independent Committee of the Board of Directors of Martha Stewart Living Omnimedia, Inc.

Status:
Closed – 12/2015

Value:
$365 million

Univar Inc.’s initial public offering

Date Announced:
06/17/2015

client:
Univar Inc.

Status:
Closed – 06/2015

Value:
$886 million

Sequel Naturals, Ltd.’s (dba Vega) sale to The WhiteWave Foods Company

Date Announced:
06/09/2015

client:
Sequel Naturals, Ltd. (dba Vega)

Status:
Closed – 08/2015

Value:
$550 million

ShoreGroup, Inc.’s recapitalization by Francisco Partners

Date Announced:
06/04/2015

client:
ShoreGroup, Inc.

Status:
Closed – 07/2015

Value:
Undisclosed

Valor Equity Partners L.P.’s fundraise for Valor Equity Partners III L.P.

Date Announced:
06/02/2015

client:
Valor Equity Partners L.P.

Status:
Closed – 06/2015

Value:
$490 million

Quest Specialty Chemicals, Inc.’s sale of Quest Automotive Products and Quest Industrial Products to Valspar Corporation

Date Announced:
06/02/2015

client:
Quest Specialty Chemicals, Inc.

Status:
Closed – 06/2015

Value:
Undisclosed

Ultra Electronics Holdings plc’s acquisition of the Electronic Products Division of Kratos Defense & Security Solutions, Inc.

Date Announced:
06/01/2015

client:
Ultra Electronics Holdings plc

Status:
Closed – 08/2015

Value:
$265 million

Global Net Lease, Inc.’s amendment and long-term extension of its advisory agreement with American Realty Capital

Date Announced:
05/29/2015

client:
Special Committee of the Board of Directors of Global Net Lease, Inc.

Status:
Closed – 05/2015

Value:
Undisclosed

Coveris Holdings S.A., an affiliate of Sun Capital Partners, Inc.’s acquisition of Elldex Packaging Solutions

Date Announced:
05/28/2015

client:
Coveris Holdings S.A., an affiliate of Sun Capital Partners, Inc.

Status:
Closed – 05/2015

Value:
Undisclosed

Capital International Private Equity Funds (CIPEF)’s acquisition of a minority stake in Mankind Pharma Limited

Date Announced:
05/28/2015

client:
Capital International Private Equity Funds (CIPEF)

Status:
Closed – 11/2015

Value:
Undisclosed

Dubai Aerospace Enterprise Ltd.’s sale of StandardAero to an affiliate of Veritas Capital Fund Management, L.L.C.

Date Announced:
05/26/2015

client:
Dubai Aerospace Enterprise Ltd.

Status:
Closed – 07/2015

Value:
Undisclosed Read the case study

Exclusive Financial Advisor and Placement Agent to Extraction Oil & Gas on its $850 million Capital Raise

On May 29, 2014, Extraction Oil & Gas, LLC (“Extraction”), a Denver-based energy company focused on the exploration and production of oil and gas reserves in the Rocky Mountains, completed a $230 million HoldCo loan and $230 million of common equity units. In addition to this financing, Moelis & Company also secured commitments for Extraction from the same investor group for an additional $425 million of debt and equity financing. The debt and equity financing comes from a syndicate of top tier institutional investors including mutual funds, alternative investment managers, pension funds, endowments and funds-of-funds. Both the debt and equity financings were significantly oversubscribed, resulting in attractive terms for Extraction. This transaction demonstrates Moelis & Company’s ability to seamlessly execute a complex joint debt-and-equity capital markets transaction to meet the needs of our clients. Moelis & Company acted as exclusive financial advisor and placement agent to Extraction on the financing transactions.

Europris ASA’s initial public offering

Date Announced:
05/26/2015

client:
Europris ASA

Status:
Closed – 06/2015

Value:
3.8 kr billion

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