14 August 2015 | AIM Market

Holland Bendelow help Fishing Republic raise £1.5 Million on AIM

Our client Fishing Republic plc has raised £1.5 million on AIM via a placing at £0.15 per share as it pursues its ambitions of being the number one fishing tackle retailer in the UK. The business has a chain of seven stores based in the north of England and an online retail presence through its own website and third-party internet retailers.

The Fishing Republic business, originally established in 1985, sells over 16,500 products that cater for all disciplines of the sport (including coarse, carp and sea fishing) and has developed several ranges of own brand products which are manufactured in the Far East.

As part of its growth strategy, the group is looking to act as a consolidator in the sector by acquiring other fishing tackle retailers and also open new stores. In line with this strategy, Fishing Republic is considering various acquisition opportunities and is planning to open a new store in Birmingham.

Holland Bendelow acted as consultants to the transaction, with the project team led by John Holland.

John Holland senior partner at Holland Bendelow, said: “We are delighted to have raised funding for another growing company this month.  We are looking forward to other fundraisings in the coming weeks and months as our clients take advantage of investor interest in companies with exciting growth plans”

Steve Gross, CEO of Fishing Republic plc, said: “The AIM flotation and fundraising provides us with the opportunity to grow the Fishing Republic brand. We greatly valued the expertise and support of Holland Bendelow from the feasibility stage to the flotation and fundraising.”

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