Page 11 - IPO Analysis - Private Equity Exits 2017_Final

Private equity exits via IPO in

2017

Private Equity
IPO Sell Down as a Price Aggregate Sponsor lock-up
Private Equity Market Cap Size proportion of Change Sponsor Total Estimated Private Equity Sponsor + Orderly
Date Company Sector Banks Underwritten Commission / Fee Structure Expenses (incl. Relationship Agreement
Sponsor(s) at IPO (£m) (£M) IPO (%) Since IPO Retained Stake Commissions) (£m) (Key Terms) Market Periods
(%) at IPO (%) (Months from
IPO)
25.04.17 Eddie Automobiles & DBAY Advisers 572.7 383.0 68.9 -2.8 30.0 Cenkos No - Commission of 2.75% 10.0 N/A 6+6
Stobart transportation Securities payable by the company and
Logistics plc the selling shareholders
- Discretionary commission
of up to 0.25% to be
determined and payable by
the company and the selling
shareholders
- Nomad and broker fee of
£40,000 per annum payable
by the company

18.05.17 eve Sleep Personal, DN Capital Global 139.7 32.6 No sell down 23.0 47.1 Peel Hunt No - Placing commissions and 2.3 N/A 6+6
plc household & Venture Capital, 4 fees not disclosed
leisure goods Ventures Limited,
Octopus, Woodford - Nomad and broker fee of
£50,000 per annum

29.06.17 Ethernity Technology Cipio Partners Fund 45.5 15.0 No sell down -42.0 20.2 Arden No - Corporate finance fee of 1.3 N/A 0+12
Networks Hardware & Partners £150,000
Limited Equipment
- Commission of 4.5%
- Nomad and broker fee of
£15,000 per quarter

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© DWF LLP 2018 11