Panmure Liberum is a new force in UK Investment Banking. We are the largest independent Investment Bank, retained as an adviser by over 220 UK-quoted corporate clients.
Proudly independent, we are able to focus on supporting corporate clients on the execution of their strategic, financial and investor plans. Our structure and collaborative culture ensures that our investment bankers are closer to both our clients and investors in the markets.
We pride ourselves on our entrepreneurial culture and our ability to deliver value added services to our clients, with whom we build long-term partnerships.
Investment Banking in numbers*
Corporate Advisory
Working in industry specialist teams, we advise public and private companies, and their owners, on all aspects of corporate development from mergers and acquisitions, disposals, restructurings, refinancings, and capital distributions.
We are approved to act as Sponsor to Main Market companies, Nominated Adviser to those admitted to trading on AIM, and Corporate Adviser to AQUIS quoted companies.
We combine technical expertise, innovative solutions and access to our extensive network of institutional relationships to help our clients achieve their strategic goals.
Equity Capital Markets
We are a leading adviser to corporates on ECM deals, having raised an aggregate £9.9bn in the last 5 years for our clients. We are ranked no.1 for UK IPOs under £1bn market capitalisation over the last 5 years*.
Raising capital in all market conditions requires strong relationships with investors, built over time and rooted in trust. It demands an intimate understanding of a company’s business and ambitions, and the ability to match and source the right pools of capital for each investment opportunity.
Corporate Broking and Investor Relations
Panmure Liberum acts as Corporate Broker to 227 growth and mid-cap companies, investment trusts and VCTs, building trusted, long-standing relationships with management teams and Boards. We provide strategic advice to cover all aspects of their business and acting as their eyes and ears to the market. We offer a wide range of market insight and intelligence, investor relations support and capital markets advice and execution.
Our Approach
Corporate Broking provides a conduit to all facets of our business, co-ordinating our sector banking teams, sales, investor relations, trading and research to provide a focussed, high level of service to our corporate clients.
We help our clients to build strong, long-term relationships with a full range of institutional investors and private client intermediaries, with the goal of creating diverse shareholder bases, whilst maximising liquidity in the companies’ shares in the market.
Specialist expertise
We have specialist expertise across 8 specific sectors:
- Business Services, Transport and Industrials
- Consumer, Travel and Leisure
- Financials & Insurance
- Healthcare
- Natural Resources and New Energy
- Real Estate and Housebuilders
- Technology and Media
- Investment Funds, Alternatives
Our Services
- Execution of market transactions including IPOs, secondary fundraisings, founder/private equity sell-downs and accelerated book-builds
- Regular provision of market insights, trade flows and investor feedback
- Confidential sounding board for senior leadership teams
- Advising Investor targeting and engagement strategy
- Advising on appropriate market communications and positioning the investment case
Investor Relations
Our Investor Relations team, based in London and New York, co-ordinates all corporate roadshows and events throughout the year, for our corporate clients. Our IR team works seamlessly with our clients, co-ordinating the engagement of our Sales and Research teams, to deliver and maximise investor engagement throughout the financial calendar year, ensuring we are delivering investor engagement in line with our clients’ ambitions.
Our IR team organises well over 3,000 investor meetings per year, by way of deal and non-deal roadshows, capital markets days, site visits, ad hoc meetings and bespoke events. The team delivers smooth logistics for impactful meetings, detailed investor targeting and feedback, regular share register analyses and bespoke board and market reports.
Investor Relations Senior Team
M&A
Our M&A team is involved in all types of corporate, public and private, and buy and sell side transactions. The team is led by senior industry professionals with deep commercial and technical expertise. In addition to the close alignment with Panmure Liberum’s sector teams, we benefit from an independence from in-house balance sheet financing, a world class debt advisory and capital structure capability, and from our access to real capital markets insights. This enables us to provide market-leading capital markets-informed M&A advice, in both public and private market situations.
Our clients include listed and unlisted corporates, entrepreneurs, private equity, family offices and hedge funds.
For 2023, Panmure Liberum ranked first for public M&A by number of announced deals for a UK target, with an aggregate deal value of in excess of £5bn.
Areas of expertise include:
- Public company M&A: Takeover Code regulated cash and share bids, mergers, defence, Rule 3, MBOs, activism, and debt and equity financing intermediation
- Private company M&A: buy and sell side (including corporate carve outs and bolt ons), MBOs, debt and equity financing intermediation, relevant sponsor/Nomad services for shareholder circular driven transactions, and dual/triple track processes
- Stressed/distressed M&A: loan to own, pre-pack transactions and debt advisory
Growth Capital Solutions
Our growth capital solutions team provides access to capital, both equity and debt, for private companies. We are an industry agnostic team focused on direct equity investments, special situations, secondary investments and private equity funds.
We optimise the private funding process, offering committed resource to our clients from initial engagement, through fundraising and beyond, making sure our growth clients are best positioned and prepared for a successful fundraise.
We typically focus on early through to late-stage venture and growth equity capital raises for successful disruptive businesses solving real world issues, leveraging the deep sector expertise of the wider Investment Banking teams.
Our investor relationships span a wide range of private investors in the UK, Europe, North America, MENA and Asia who can lead and/or co-invest in private transactions, for example:
- Venture Capital
- Tax Efficient Investors (EIS/VCT)
- Institutional and Asset Managers
- Family Offices / Multi- Family Offices
- Strategic / CVC
Debt Advisory
Our Debt Advisory team provides impartial advice to UK-listed and privately-owned companies at all stages of the corporate lifecycle on their debt financing options, market conditions and best execution across all forms of corporate debt, including leveraged finance, debt capital markets, real estate and sustainability-linked financing.
We are able to advise on and access funding sources available across all sectors and have long-standing relationships with lending banks and the wider debt investor and professional communities. We cover the full suite of debt-related products for all corporate financing needs in the normal course of business and event-led and other strategic opportunities, including advice on acquisition financing, covenants, accordions, extensions, waivers and amendments.
We are an independent advisor, not conflicted by our own debt product origination needs, with deep market relationships and extensive years of experience within the banking and debt capital markets industry. The Debt Advisory team provides impartial advice to our corporate clients as their strategic partner to i) determine the most appropriate debt structure to achieve their short and long-term aims and ii) execute those plans in the most efficient manner and with the most appropriate counterparty.
Based in London, with a UK-wide focus, we work very closely with the teams across Panmure Liberum to deliver a full service, across the entire capital structure of our clients from pre-IPO to post-IPO and M&A financings.
Our combined fundraising achievements
Trump may not be the nightmare European economies fear
Dec 2024
By Simon French, Chief Economist and Head of Research
Conventional wisdom has it that the second Trump Presidency will be a nightmare for the European economy. Certainly that is how financial markets see it. The Euro, the British Pound, and the Swiss Franc are down by six cents against the Dollar during the fourth quarter. The US S&P500 share index is up 9% over the last three months, the closest European equivalent - the Stoxx600 - is down by 2% over the same period. Investors are calculating that the growth of corporate earnings in the United States will further outstrip those in Europe - with US earnings fueled by Trump-led corporate tax cuts, and European earnings impacted by punishing tariffs on Europe's $600bn of goods exports into the US economy.
Thought of the Week - what makes a market 'look risky'?
Nov 2024
By Joachim Klement, Head of Strategy
A couple of months ago, I wrote a post about research that examined what we look at when we look at price charts. In an independent study that could be considered a follow-up (at least when it comes to me writing a post), Xindi He and Yucheng Liang quantified some of these perceptions and showed how they influence our perception of the riskiness of an investment.
Rachel Reeves still has opportunity to escape economic doom loop
Nov 2024
By Simon French, Chief Economist and Head of Research
UK economic growth slowed during the third quarter of the year. GDP growth of just 0.1% in the three months to the end of September was a marked slowdown from the average of 0.6% during the first two quarters of the year. Sentiment was impacted by looming tax increases, a different approach to labour market regulation, and fears over a crowding out of private sector activity. This meant that decision-making stalled. Whilst this was most obvious in the construction sector, the data suggested that all sectors were impacted. The fear is of more to come through the winter as employers work through the impact of the recent Budget.
