2023

2023 Open
2023 Open

DWF Group acquired by Inflexion Private Equity Partners

21 July 2023

 

RECOMMENDED CASH ACQUISITION OF DWF GROUP PLC BY AQUILA BIDCO LIMITED

a newly incorporated wholly-owned subsidiary of funds advised by INFLEXION PRIVATE EQUITY PARTNERS LLP

to be implemented by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006

Summary

  • The boards of Aquila Bidco Limited ("Bidco"), a newly incorporated wholly-owned subsidiary of funds advised by Inflexion Private Equity Partners LLP ("Inflexion") and DWF Group plc ("DWF") are pleased to announce that they have reached agreement on the terms and conditions of a recommended all cash offer by Bidco for the entire issued and to be issued ordinary share capital of DWF (the "Acquisition"). The Acquisition is intended to be implemented by means of a scheme of arrangement under Part 26 of the Companies Act.
  • Under the terms of the Acquisition, each DWF Shareholder will be entitled to receive:
    100 pence for each DWF Share (the "Transaction Value")
    valuing the entire issued, and to be issued, ordinary share capital of DWF at approximately £342 million.
  • The Transaction Value will comprise for each DWF Share held at the Scheme Record Time:
    - cash consideration of 97 pence per DWF Share (the "Cash Offer"); and
    - a special dividend of 3 pence per DWF Share, which is conditional on the Acquisition becoming Effective (the "Special Dividend").
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