Superglass flotation is a clear winner

Jul 25 2007 by Iain Laing, The Journal

LAW firm Dickinson Dees has advised investment manager Brewin Dolphin Securities in its role as sponsor on the flotation of Scottish insulation manufacturer Superglass.

Founded 20 years ago, Superglass is now a leading supplier of glass-wool insulation products, an industry that is booming on the back of Britain’s buoyant housing sector and Government requirements for increasing energy efficiency.

The market for glass-wool products for cavity wall and loft insulation is forecast to expand by more than a third by the end of the decade.

Shares in Stirling-based Superglass were admitted to trading on the London Stock Exchange’s main market at 180p per share.

The flotation values the company at £105m and provides an exit for its private equity owners, NBGI and Investec.

Dickinson Dees’s corporate partner Sean Nicolson and associate Robin Steel advised Brewin Dolphin.

Mr Nicolson said: “The firm has acted for Brewin Dolphin on a number of matters during the last 18 months, including the successful AIM flotations of Hargreaves Services and Vertu Motors.

“The Superglass float demonstrates Brewin Dolphin’s national reputation for both AIM and main market fundraisings.”