Our Capital Markets team has advised AIM quoted Concurrent Technologies plc, in relation to its secondary capital fundraising of up to £6.8 million through a placing and retail offer, with Cenkos Securities plc acting as bookrunner and broker.
Concurrent Technologies is a leading specialist in the design, manufacture and supply of innovative high-end embedded computer products aimed at a wide base of customers within the defence, telecommunications, aerospace, transport, scientific and industrial markets.
Concurrent Technologies has conditionally raised the funds primarily to finance the acquisition of the entire issued share capital of Phillips Machine & Welding Company, Inc for an aggregate consideration of US$3.375 million (approximately £2.64 million).
Principal associate, Alex Davidson led on the fundraising, supported by corporate partner Hugh Maule and trainee Nimmi Joseph.
Richmond Davies, Commercial Director of Concurrent Technologies, commented:
"Delivering a successful funds raise was important for the strategic development of Concurrent Technologies. The team at Gowling WLG understood this from the outset, and we were very pleased with the guidance, support and advice that we received during the process."
Commenting on the fundraise, Alex Davidson said:
"We are delighted to have assisted Concurrent Technologies in completing such a successful fundraise, especially being it's first in recent history. We look forward to seeing Concurrent Technologies build on its existing success".