Ashurst has advised J.P. Morgan Cazenove and J&E Davy as joint global co-ordinators in relation to the £606 million placing of ordinary shares by DCC plc. DCC is a leading international sales, marketing and support services group headquartered in Ireland and listed on the premium segment of the London Stock Exchange's main market, operating through four divisions: LPG, Retail & Oil, Healthcare and Technology.
The placing was announced alongside the acquisition by DCC of Jam Industries, a market-leading North American specialist sales, marketing and services business serving the professional audio, musical instruments and consumer electronics product sectors. DCC intends to use the net proceeds of the placing to enable the continued implementation of its targeted acquisition strategy by enhancing the balance sheet strength and liquidity of the group.
The Ashurst team was led by Partner Nicholas Holmes, head of equity capital markets, assisted by senior associate Jeffrey Johnson and associate Louise Chan. US securities partner Jennifer Schneck and counsel Caroline Chambers also advised on the transaction.
