Law firm Eversheds has advised Investec Bank plc, as sponsor and sole bookrunner, on the £308.5 million Main Market IPO of FDM Group, the IT-focused international professional services provider.
Founded in 1991, FDM is a UK-based international professional services provider focusing principally on IT, specialising in the recruitment, training and deployment of its own permanent IT consultants across six core service areas: Development; Testing; Project Management Office; Data Analysis; Application Support; and Infrastructure.
In connection with the IPO, Inflexion Private Equity, FDM Group’s majority shareholder, will sell their entire holdings in the Company. Following the IPO, the Directors and certain members of the senior management team will, in aggregate, continue to own approximately 20.4 per cent. of the issued share capital of the Company.
The Eversheds team was led by Partner, Richard Moulton, and Principal Associate, Mark Roe.
Riichard commented:
“We are delighted to have been able to advise Investec on this successful Main Market IPO, which is testament to the strength of the FDM Group business and current investor appetite for capital markets transactions and IPOs, in particular. We look forward to working with Investec on future mandates.”
Rod Flavell, CEO of FDM, said:
“Over the last 23 years, FDM has grown through multiple technology cycles to establish itself as a leading global professional consulting firm focused on the IT sector.
“With the support of Inflexion we have expanded both our geographic reach and breadth of service offering significantly over recent years and this strengthened operational platform leaves FDM well-placed to capitalise on the strong growth prospects of an IT market with global opportunities in big data, mobile and social media.”
Rowena Murray of Investec Bank plc said:
“We are delighted to have been sponsor and sole book runner on the successful Main Market IPO of FDM Group. It was a smooth and efficient process and we thank our legal advisers, Eversheds, and all other advisers on the transaction for their significant contribution to the transaction’s success.”
