Latham Advises on £120 Million Placing by Polypipe Group

London team represents bookrunners in cashbox placing for leading manufacturer of plastic piping systems.

May 14, 2020

Latham & Watkins advised Deutsche Bank and Numis as joint bookrunners on a £120 million cashbox placing by Polypipe Group plc (Polypipe), a leading provider of sustainable water and climate management solutions for the built environment.

The placing represented 13.4% of Polypipe’s issued share capital and was conducted through an accelerated book building process. The proceeds will be used to strengthen Polypipe’s balance sheet, reduce overall debt and lower leverage, enhancing the operating strength of the group and enabling continued organic investment.

This builds on Latham’s prominent equity capital markets activity in London since the start of the COVID-19 pandemic, following its work on placings for J D Wetherspoon, Hays and Assura, and the premium listing of Diversified Gas & Oil on the LSE.   

The team was led by London corporate partner Chris Horton, with associates Anna Ngo and Frederick Gardner. London partner Ryan Benedict and associate Sarah Youssefi advised on US securities law matters. 

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.