News & Announcements

Weil Advises Equiniti on its IPO and Listing on the London Stock Exchange

International law firm Weil, Gotshal & Manges is advising Equiniti, a leading specialist in technology, finance and administrative services in complex or regulated markets, on its initial public offering (IPO) and listing on the Main Market of the London Stock Exchange.

Equiniti provides complex administration and payment services supported by leading technology platforms to a wide range of organisations, including c.70 of the companies in the FTSE 100. It is the UK’s leading provider of share registration and associated investor services, and also has market leading positions in administration of employee share plans, pensions administration and software, and employee benefit schemes. Equiniti supports clients in a wide range of industries and has particular strength with clients in the banking, insurance, other financial services and outsourced government services sectors.

Guy Wakeley, CEO of Equiniti, commented: "We are very much looking forward to the next stage of our corporate journey, with Equiniti ideally suited to life as a listed company. The IPO will align us with the markets we serve. Our highly scalable proprietary technology platforms sit at the heart of the United Kingdom’s financial and capital markets, providing complex administration and payment services to half of the economically active population.

The IPO will enable Equiniti’s management team to continue its proven growth strategy, whilst benefiting from a growing market and favourable trends towards outsourcing, greater regulation and digitalisation.

Weil advised longstanding client Advent International on its original acquisition of Equiniti in 2007, and on a number of bolt-on acquisitions since then. The Weil team included senior consultant Ian Hamilton and corporate associates Tayyibah Arif, Tomasz Rodzoch and Emma Robinson. A team led by banking partner Tom Richards, and including associates Chris Roberts and Caroline Gershon, is advising Equiniti on new debt facilities entered into in connection with the IPO. The team also includes counsel Oliver Walker (tax) and Ivor Gwilliams (employment).

This Equiniti IPO follows a particularly buoyant time for London listings, especially private equity exits, since the beginning of 2015. Weil recently advised Advent International and Bain Capital on a dual track process leading to the IPO of Worldpay, the leading global payments business, in what is expected to be one of the largest London IPOs so far this year. Earlier this year, Weil advised on the high profile IPO of one of the UK’s best known brands, DFS, a former Advent International portfolio company.