RSM advises on Manolete Partners admission to AIM

RSM’s capital markets team has advised on the successful IPO of insolvency litigation financing specialist Manolete Partners plc, which was admitted to trading on AIM today (14 December 2018).

The IPO raises over £16.25m for the company and £13.1m for selling shareholders, and values the newly-listed company at approximately £76.25m. 

Manolete Partners was established by Steven Cooklin in 2009 to focus exclusively on investing in insolvency and insolvency-related claims. The company invests in cases by either funding or purchasing the litigation claims of Insolvent Estates or Office Holders. 

Since its launch, Manolete Partners has grown to become one of the most prominent providers of insolvency litigation financing in the UK. The business has grown rapidly in recent years, from investing in three cases in 2009 to 249 invested cases by 30 September 2018, 76 of which were live. 

The Directors believe that there is a significant opportunity to accelerate the growth of the company's activities by investing in more and potentially larger claims in the future. It has detailed plans to develop existing and new relationships with Insolvency Practitioner firms, hire more insolvency specialists and increase the company's presence across the UK through continued development of its regional network.

This is the seventh AIM IPO that RSM has advised on this year following the listings of OnTheMarket plc, Anexo Group plc, Cake Box Holdings plc, Summerway Capital plc, Knights Group Holdings plc and Yellow Cake plc

The team for the Manolete Partners transaction was led by RSM corporate finance partner Paul Watts, with support from Matt Cowie and Nathan Young.

Paul Watts, RSM corporate finance partner said:

Manolete Partners' decision to list on AIM provides the company with an exciting opportunity to expand their operations, take on a bigger case load and invest in larger claims. I am delighted that we have been able to guide the directors through the process and achieve a successful listing, and I wish them every success in the next stage of the company's development.'

RSM was recently named by Experian as the UK's busiest M&A financial adviser in the first three quarters of this year. In the 11 months to November 2018, RSM also acted as reporting accountant on more AIM IPOs than any other firm.