The Michelmores capital markets team has advised N+1 Singer on United Carpets Group plc’s tender offer and proposed de-listing from AIM. United Carpets is one of the largest specialist retail carpet and floorcovering stores in the UK with over 50 stores located across Northern and Central England. The on-market tender offer by N+1 Singer was central to United Carpet’s desire to provide its shareholders the opportunity to accept a share buyback prior to trading on AIM being cancelled. The Michelmores team was led by London corporate partner Ian Binnie with support from corporate associate James Whistler.
Rick Thompson, Managing Director at N+1 Singer commented:
“We had no hesitation in turning to trusted adviser Ian Binnie and his Michelmores capital markets team for their legal, technical and commercial support in relation to this innovative structure. The attractions of accessing such specialised partner-led advice usually only available from much larger law firms cannot be over-emphasised.”