Van Elle is a leading UK geotechnical engineering company offering a wide range of ground engineering techniques and services to customers in a variety of UK construction end markets.
In accordance with the cash box placing facilitated by Peel Hunt, Van Elle has raised £6.67 million gross proceeds which are expected to enable the company to withstand the possible negative impact on the economy as a result of COVID-19 and ensure the company is well placed to respond quickly as the market recovers. The placing was conducted by way of an accelerated book build process undertaken by Peel Hunt.
The Burges Salmon team advising on the matter was led by partner Dominic Davis with support from senior associate Douglas Streatfeild-James and associate Bethan Penrhyn-Jones.
Ed Allsopp of Peel Hunt comments: “It was great to work with Dom and his team on this transaction which provides our client with additional capital to help manage the current backdrop and period of uncertainty we are experiencing as a result of COVID-19. The timely and pragmatic advice we received from Burges Salmon was instrumental in ensuring the fundraising was successfully completed on an ambitious timetable.”
Dominic comments: “We were delighted to support Peel Hunt on this important fundraise. It was particularly pleasing to see Van Elle and Peel Hunt execute this transaction successfully given the recent market volatility and uncertainty and the need to move quickly at an important time for Van Elle.”