Clapham House Group Plc
Take private of The Clapham House Group plc
Altium acted as financial adviser, broker and NOMAD to The Clapham House Group Plc (“Clapham House”) on the recommended cash offer by Nando’s Group Holdings Ltd (“NGHL”).
- Clapham House engages in the operation and management of restaurants in the UK and internationally. The company operates 58 UK restaurants under the Real Greek and Gourmet Burger Kitchen brand names
- NGHL owns the successful Nando’s restaurant operations in the UK and the Republic of Ireland. NGHL is in 100% common ownership with Capricorn Ventures International Limited, which owned approximately 27 per cent. Of Clapham House prior to the offer
- On 17 September 2010 NGHL announced a recommended cash offer for Clapham House at an offer price of 74p per share, valuing the entire issued share capital of Clapham House at £30.4m
- The cash offer was recommended by the Clapham House board and irrevocable undertakings and letters of intent in support of the offer were received from shareholders representing 47.1 per cent. of the issued share capital of Clapham House
- The cash offer was declared wholly unconditional on 15 October 2010 after NGHL received valid acceptances representing approximately 80.1 per cent. of the issued share capital of Clapham House
- This deal capitalised on Altium’s broad range of advisory skills, including its public-to-private expertise, its in-depth strategic and regulatory advice including the Takeover Code and the AIM rules
- The deal represented further evidence of Altium’s leisure sector expertise where we have advised restaurant groups including Carluccio’s. La Tasca, Prezzo, Gaucho, EAT, IRC, Tragus and Dominos
- Altium was appointed NOMAD and broker to Clapham House in April 2010 and conducted a £2.2 million share placing on behalf of Clapham House in May 2010
For further information on this transaction please contact Ben Thorne, Sam Fuller or Katherine Hobbs.
<< Click here for further Case Studies