Acuity Law Advises AIM Listed Facilities by ADF PLC on its Latest Acquisition and Placing

Acuity Law Advises AIM Listed Facilities by ADF PLC on its Latest Acquisition and Placing

Acuity Law has advised Facilities by ADF plc (ADF) on its acquisition of Autotrak Portable Roadways Ltd (Autotrak) for up to £21.3 million (acquisition) and its associated fundraising which raised gross proceeds for ADF of £20.5 million (the placing) and sell down by certain existing shareholders.

ADF is the leading provider of premium serviced production facilities to the UK film and high-end television industry (HETV). Its acquisition of Autotrak, one of the market-leading suppliers of portable roadway panels to the film and TV sector in the UK, is the next step in the delivery of ADF’s vision to be a one-stop shop for film and HETV production, operating across multiple businesses and run by talented local management. 

The placing, which was carried out by way of an accelerated bookbuild and retail offer through Cavendish Capital Markets Limited, was run alongside the acquisition process to raise funds for ADF to part fund the consideration payable pursuant to the acquisition. The placing was one of the largest fundraises carried out on the AIM Market this calendar year to date.

The Acuity team comprised corporate partners Beverley Jones and Andrew McGlashan, Property team partner Steve Morris and they were assisted by Chiara Howfield, Shawnee Evans, Swyn Llyr and Carys Griffith. Acuity partner Beverley Jones who led the team on the transaction said:

“We are delighted to have supported ADF in this latest strategic acquisition and look forward to seeing how this enhanced partnership contributes to the future growth and success of both companies.”

ADF CEO Marsden Proctor said:

“We are delighted to complete the acquisition of Autotrak, which marks a material step in our stated strategy of being the provider of choice for the HETV & film industry across a diversified product and service offering. We had the pleasure of working with the Acuity Law team who once again provided a superb service, and we couldn’t be more satisfied with the experience.”

ADF is an established client of Acuity, which advised on its 2022 acquisition of Location One, the UK’s largest integrated TV and film location service and equipment hire company.