Global law firm Ashurst is advising Portmeirion Group plc (AIM: PMP), the global homeware brands group, on an equity placing and retail offer to raise gross proceeds of approximately £17m. The equity fundraise is being undertaken alongside the agreement of new long term debt financing as part of a wider strategy with the ambition to create a global brand with £300 million of brand sales through strengthening the group's balance sheet and focusing on the hero brands of Spode and Portmeirion alongside a relaunch of Royal Worcester.
The Ashurst corporate team is being led by partner Tom Mercer, with support from senior associate Louise Johnson, associates Marisa Muramatsu and Patrick Chambers, with Jeffrey Johnson advising on US securities law matters. Global loans partner Tim Rennie is advising on debt financing with support from associate Candice Chan.
