Zeus Capital acts on reverse takeover
The firm, which took home three awards at last night's event including Dealmaker of the Year for Richard Hughes, acted as nominated adviser and broker on Collagen's deal to purchase New Zealand-based Southern Lights Biomaterials and its share placing.
The NZm (£6m) acquisition constitutes a reverse takeover. The net proceeds of the placing will partially fund the initial NZm (£2.5m) cash element of the consideration and provide working capital.
Collagen said the deal is a logical strategic extension and complementary acquisition that provides additional security of supply of high grade collagen.
The company is a manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics.
As part of the deal Geoffrey Bennett, the co-founder of Southern Lights, will join Collagen Solutions' board as chief business officer.
Ross Andrews, business head of plc advisory at Zeus, said: "The acquisition is a logical strategic extension, provides the group with a wider international customer base and access to high grade collagen from a BSE free country.
"The group raised £6m in a over subscribed placing to part fund the acquisition and for working capital."
Panmure Gordon & Co is joint broker.