Client case study
Rickitt Mitchell began working with Styles & Wood as a fast growing private business owned by Ged Quiligotti, focused on retail fit-out contracting. Through a series of equity and debt fundraisings the business was transitioned to a new management team and prepared for flotation to the main list of the stock exchange. The financial crisis of 2008 saw the business heavily impacted and it moved to the AiM market, where it is now rebuilding its value, from a market capitalisation low of c£3m in 2013 to c£14m in November 2015.
Rickitt Mitchell has worked with Styles & Wood since 2001, delivering a series of fundraisings and share restructurings, prior to advising on the flotation to the main list of the London Stock Exchange in 2006. Since then Paul Mitchell has been a non-executive director, helping Styles & Wood move to the AiM list and becoming chairman in 2014. Paul has advised and led the structuring, negotiation and delivery of the business’s most recent refinancing.
“The successful completion of a major refinancing in June 2015 substantially strengthened the group's balance sheet at the period end. The resultant lower net debt will better enable Styles & Wood to continue to pursue its growth agenda.”Tony Lenehan, CEO
Altrincham based Styles & Wood Group plc is an AIM-listed integrated property services and project delivery specialist, providing a range of services including design, building intelligence systems, renewable energy solutions, programme services and project delivery, with a market capitalisation of approximately £14m.
From 2008 Styles & Wood had suffered a significantly downturn in line with its industry. Paul Mitchell has worked with the rest of the board to ensure that the business is secure for the long term and well positioned for growth through a restructuring of its debt and shareholding base, including introducing the Business Growth Fund as a shareholder.
£14m Market Cap.