Burges Salmon advises Embark Group on £39.4million capital raising

The firm’s Corporate team has advised long-standing client Embark Group on a capital raising of £39.4million, providing growth capital to be deployed organically and via acquisition

05 July 2019

Embark is experiencing high demand for its digital retirement and platform services, and the capital raising will allow it to act upon its disruptive position in the UK investment savings sector.

New institutional investors BlackRock, Inc. and Legg Mason, Inc. provided the core capital, with material investment provided by Merian Chrysalis Investment Company Limited. BlackRock and Legg Mason will take a 9.9% stake in Embark Group, with Merian Chrysalis taking a 19.9% stake. In addition to early stage investor New Star Investment Trust plc, the capital round leaves Embark with a portfolio of high quality ‘cornerstone’ long-term investors.

The Burges Salmon team which advised Embark was led by Corporate team partner Mark Shepherd, with support from Alex Lloyd, Briony Barber and Tom Currie.

Mark says: “We’re delighted to have been able to support Embark on this transformational investment round. It leaves Embark with a fantastic institutional investor base as well as the capital to really drive forward its strategy. It has been an amazing journey to date and we look forward eagerly to the next chapter of Embark’s growth.”

Phil Smith, CEO at Embark Group, concludes: “Every time we think we have set up the corporate version of mission impossible for the team at Burges Salmon, they thwart us by delivering! They are simply the best deal team in the UK in our opinion.

However complex a deal we enter into, we remain steadfastly confident that Burges Salmon will deliver with quality, precision, value and good humour. This was the case here. Mark and his team remain a true delight to work with.”

Key contact

Mark Shepherd

Mark Shepherd Partner

  • Head of Private Equity
  • Corporate
  • Healthcare

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