Dentons has advised Arlington Group Asset Management Limited and Cenkos Securities plc as joint brokers on Auctus Growth plc’s £120 million acquisition of HeiQ Materials AG and simultaneous reverse takeover, including an oversubscribed placing and subscription which raised £60 million (before expenses) from institutional and other investors.

HeiQ Materials AG creates innovative technologies that add functionality, comfort, hygiene and sustainability to existing apparel, home textiles, technical textiles, medical textiles and devices, and functional consumer products.

The funds raised will be used to strengthen HeiQ Materials AG’s regulatory portfolio, enhance its direct to consumer marketing and build brand equity, expand its geographical footprint, expand its sales channels, upscale its products, and build a medical business unit in light of the robust growth that HeiQ Viroblock, one of HeiQ’s current core technologies, has experienced due to COVID-19.

Neil Nicholson, partner in Dentons’ UK Corporate team who led on the deal, said, “We were pleased to support the Arlington and Cenkos teams on a successful transaction for HeiQ Materials AG, one of the largest floats on the London market this year.”

Alongside Neil Nicholson, the Dentons team in London included Corporate senior associate Verity Kent, Corporate associate Charlotte Uden and Corporate trainee Andrew Gallagher