Ashurst and Eversheds make a splash on £140m Joules IPO

Ashurst and Eversheds are advising as UK clothing company Joules lists on London’s AIM market this week. 

Eversheds is advising Joules on the flotation, due to take place tomorrow (26 May) and expected to raise approximately £77.5m.

The firm’s team consists of Midlands corporate head Keri Rees, alongside Birmingham corporate partner Steve Hacking.

In 2009, Rees advised on Lyceum Capital’s sale of Superior Plumbing Installations Group to gas and electricity provider RWE npower.

The placing is expected to value Joules at £140m.

Ashurst is advising the underwriters – broking house Peel Hunt and London boutique investment bank Liberum.

Its team is being led by City partner and head of equity capital markets, Nicholas Holmes.

Earlier this year, Holmes led the Ashurst team advising British property developer Countryside Properties on its IPO.

Rothschild is acting as its financial adviser. 

Earlier this month, Pinsent Masons and DLA Piper won the key roles as UK car supermarket Motorpoint was admitted to the London main market with a valuation of £200m.

Pinsent Masons acted for Motorpoint, with a team led by corporate finance partners Rob Hutchings and Hannah Brader.

DLA Piper acted for Numis, the broker coordinating the IPO, and Shore Capital, the co-bookrunner.

Leeds corporate finance partner John Gallon led the team for DLA.