Irwin Mitchell Advises On AIM Placing
The Corporate team at law firm Irwin Mitchell has advised AIM-listed Escape Hunt Plc on a placing to raise £1.4m.
Coinciding with the placing, Escape Hunt recently announced that it has conditionally agreed terms to acquire its French master franchise partner, BGP Escape.
The escape room operator says that the cash will be used to support their proposed acquisition and fund potential additional investment therein, and to continue the UK roll-out of owner-operated sites.
Richard Harpham, Escape Hunt's CEO, said: "Prior to COVID, the French/Belgian territory was a very strong performer for Escape Hunt and we are confident that demand will return to previous levels once the current restrictions are lifted. The BGP Escape management team has created a wonderful business over the past 6 years and it is a pleasure to welcome them to our central team as we consider together how best to expand the Company's reach. We are excited about the prospects for the region and are delighted to be the owner of the business for the next stage in its journey. Furthermore, we are delighted to have received strong support from existing investors in this Placing and are eager to put the proceeds to work."
Irwin Mitchell’s Corporate team was led by partner, James Paton-Philip, supported by Thomas Morrish (Solicitor) and Lauren Dunnill (Trainee Solicitor).
Expert Opinion“Escape Hunt is a business which is optimistic about the future despite the challenges that the Covid-19 pandemic has brought. The backing that it has received from investors is testament to the trust and confidence that they have in the management team’s ability to grow in the UK and beyond.” James Paton-Philip - Partner
The Corporate team at Irwin Mitchell previously advised Escape Hunt Plc on its £4.3m placing, open offer and loan note issuance.