Pinsent Masons client Motorpoint has appointed its first in-house legal chief ahead of its flotation on the London Stock Exchange (LSE).
The Derby-based retailer has hired Freeths senior associate Manjit Heaphy as its first head of legal and company secretary. Motorpoint’s upcoming IPO is currently valued at £200m.
Motorpoint received advice on the IPO from Pinsent Masons London partners Rob Hutchings and Hannah Brader in a client win for the firm.
Leeds-based DLA Piper partner John Gallon led advice for Numis Securities, which served as co-ordinator, sponsor and bookrunner.
The listing of vehicle retailer Motorpoint comes amid a slowdown in LSE listings as companies await the results of the EU referendum.
Proceeds of £100m are due to be raised for the selling shareholder MP Group Holdings, while the company saw its revenue increase over 30 per cent last year from £563m to £729m.
Background to the deal
Derby-headquartered Motorpoint has traditionally turned to Freeths for legal advice, with its first legal head Heaphy hailing from the firm and legacy Freeth Cartwright.
Freeths is therefore expected to continue to work with Motorpoint on various legal issues, despite Motorpoint selecting Pinsent Masons as its City advisers for the LSE listing.
Motorpoint’s IPO comes amid a slowdown in LSE listings, as concerns continue to be raised over the consequences of the EU referendum. High-profile listings this year include Countryside Properties, CMC Markets and Metro Bank.