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Latham Advises On Kier Group’s GBP 241 Million Capital Raise

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A capital raise is when a company approaches existing and potential investors to ask for additional capital (money) in the form of either equity or debt. Equity. Equity raising is when a company raises funds by issuing new shares.

Latham & Watkins is advising Rothschild as sponsor and Numis and Peel Hunt as joint bookrunners to Kier Group plc (Kier) on Kier’s underwritten firm placing, placing, open offer, and separate directors’ subscription, raising gross proceeds of approximately £241 million.

The capital raise, together with the recent sale of Kier Living Limited, will raise approximately £352.4 million of gross proceeds for Kier.

The proceeds will provide Kier, a leading infrastructure services and construction group, with the financial and operational flexibility to continue to deliver on its strategic objectives.

The Latham team was led by London corporate partner Chris Horton, with associates Sean Meehan and Frederick Gardner. United States securities advice was provided by partner Ryan Benedict and capital markets lawyer Irene Pistotnik.

Latham & Watkins Overview

Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, Latham is the second-largest law firm in the world by revenue. As of 2021, Latham is also one of the most profitable law firms in the world, with profits per partner exceeding US$4.5 million.

Dentons Recognised As One of The Greenest Employers

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Dentons is proud to be recognised as one of Canada’s Greenest Employers for five consecutive years. The firm continues to work with our environmental champions across our Canada platform to build a culture of environmental awareness, enhancing how we affect change.

Dentons is a multinational law firm. Dentons was the world’s 5th-largest law firm by revenue, with $2.9B gross revenue in fiscal year 2019. The firm is called Dentons in all languages other than Chinese, in which it is called 大成.

Canada’s Greenest Employers is an editorial competition organised by the Canada’s Top 100 Employers project, designed to celebrate organisations who have developed exceptional sustainability initiatives.

Dentons continues to identify innovative opportunities and promote wellness through eco-conscious programs to support the law firms shared value of minimising our environmental impact across our offices and within our communities.

Recently, the firm moved to fully digital pay statement distribution system, removing the need to print pay statements for all 1300+ team members across Dentons Canada, reducing our carbon footprint.

This special designation recognises the employers that lead the nation in creating a culture of environmental awareness in their organisations.

These employers have developed exceptional sustainability initiatives – and are attracting people to their organisations because of their environmental leadership. This award grew out of two remarkable speeches given by Al Gore and Robert F. Kennedy Jr. at our annual conferences in 2006 and 2007, respectively.

Prior to 2009, this award was called “Canada’s Most Earth-Friendly Employers”.

Pinsent Masons Law Firm Realigns its Professional Services Offering

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Professional services are occupations in the service sector requiring special training in the arts or sciences. Some professional services, such as architects, accountants, engineers, doctors, lawyers, and teachers, require the practitioner to hold professional degrees or licenses and possess specific skills.

Multinational law firm Pinsent Masons has brought together a range of skill set offerings to launch a professional services practice group as it further embeds its strategy to become a purpose-led professional services business with law at the core.

Pinsent Masons Vario, will become a practice group and sit alongside the firm’s traditional legal practice service lines, and will combine the firm’s flexible resourcing division, diversity and inclusion consultancy Brook Graham, technology and consulting group, legal project management and managed legal services capabilities in response to client demand for commercial expertise alongside legal capabilities.

Over the past three financial years, Pinsent Masons Vario has achieved average year-on-year growth in excess of 30% and has opened in four new jurisdictions. In addition to this, it has grown its global client base to 250 clients in the past year.

Pinsent Masons Overview

Pinsent Masons was born out of a merger between Birmingham firm Pinsent & Co and Leeds firm Simpson Curtis in 1995. A London presence came in 2001 via a merger with City boutique Biddle with the rescue of the Midlands part of collapsing firm Garretts a year later.

The final piece of the jigsaw came in 2004, when Pinsents merged with Masons – a firm with a stellar reputation in the fields of construction, engineering, projects, energy and tech, with offices in London, Bristol, Leeds, Manchester, Glasgow and Edinburgh.

The early years were not entirely carefree: there were problems integrating the two legacy Manchester offices, a stream of partner departures included insurance dispute practice head James Crabtree and Bristol commercial property group head Rosemary Pike, and staff satisfaction was not all it could be; however, partner profits rocketed an unheard-of 70 per cent, from £234,000 to £400,000, in 2005/06.