National business law firm DWF has advised Clipper Logistics plc ("Clipper"), a leading provider of logistics solutions to the retail sector in the UK, on its Main Market IPO, with total market capitalisation of approximately £100 million.
The listing will facilitate future access to capital and provides Clipper with a platform for growth in the rapidly expanding e-fulfilment and returns market.
Founded by Steve Parkin in 1992, Clipper is a leading provider of logistics and e-fulfilment to the UK retail sector, providing services within the online fashion and non-food sectors to clients including ASOS, Morrisons, New Look and Tesco.
As part of the deal the trading company Clipper and its affiliates and subsidiaries, including Northern Commercials, will remain and Clipper Logistics plc will become its holding company.
Leading the deal for DWF, corporate partner Guy Jackson commented: "It has been a pleasure to work with Clipper on a deal which provides such a strong platform for future growth, particularly as the flotation will enable the Group to continue its development of new, complementary products and services in the logistics sector and its European expansion, further supporting the Group’s leading customer proposition.
“The DWF team has significant expertise across the logistics, transport and retail sectors and were well-placed to support Clipper throughout all aspects of the transaction."
Guy Jackson was supported on the deal by a national team including corporate director Lisa Stavropoulos, solicitor Lucy Shenton and partner Daniel O’Gorman.
Steve Parkin, executive chairman of Clipper, added: "I am delighted with the success of the offering and the strong response from investors demonstrating their support of the company’s ambitious growth plans. This is a major milestone in the company’s development and I look forward to the next phase as a publicly listed company with great confidence.
"I’d also like to thank Guy and his team at DWF. Having a team of advisers that works with you as a partner makes a huge difference. Throughout this process they have provided us with fantastic support and have been there 24/7. Quite frankly no request has been too much for them."
DWF’s 80-strong corporate team has seen a 140% year-on-year increase in deal volumes across the UK with particular growth in the retail, technology and transport sectors.
The firm’s experienced retail team advises an extensive base of major household names and FTSE-listed companies on a range of matters such as commercial contracts, supply chain issues, intellectual property, regulatory and data protection requirements.