Birmingham dealmakers deliver for transport technology firm’s IPO
A team of corporate experts from Gowling WLG in Birmingham have advised Coventry-based transport technology firm Aurrigo International on its placing and admission to trading on the AIM market of the London Stock Exchange.
The IPO represents a significant milestone for Aurrigo and provides a platform to fulfil its potential and make a difference to airports, airlines, passengers and cargo around the world.
Aurrigo, which was formed 29 years ago by brothers David and Graham Keene, has raised £8m to fund strategic expansion plans that will see the continued development and future roll-out of its Auto-Dolly product, an autonomous vehicle for carrying cargo and luggage at airports around the world.
The new investment will be used to scale up future production and build on successful trials at Changi International Airport in Singapore and Gerald R Ford International Airport in North America.
The team from Gowling WLG which advised Aurrigo was led by corporate partner and co-chair of global tech Davey Brennan and legal director Sue Johnston.
They were supported by a large cross-firm deal team, including a corporate team comprising partner Sam Myers, associates Abby Parkin and Hannah Shamsolmaali and trainee solicitors Hannah Barnett, Tasha Cranmer-Brown and Anna Samokhina.
More than 50 jobs are set to be created in the UK and at overseas sales and technical offices in North America Australia and the Far East.
Brennan said: “It has been an absolute pleasure working with David, Graham and the wider Aurrigo team, providing input and advice surrounding such an important milestone to an already successful transport tech solutions provider. We look forward to seeing the global expansion that this IPO facilities for the company as they move forward with their ambitious growth plans. In what remains a very challenging market, we are delighted to be among the go to advisers for IPOs and fundraisings on the London Stock Exchange.”
Ragi Singh, client partner for Aurrigo, said: “Having known David and Graham since we were each members of UK Autodrive, the UK Government’s autonomous vehicles consortium tasked with accelerating the development and integration of driverless vehicles in the UK, it naturally gives us great pleasure to have assisted them with their placing and admission on a UK market. We hope this provides Aurrigo with the opportunities to accelerate the use of autonomous vehicles even further in the UK and beyond.”
Keene added: “The support that we received from Davey and his team throughout this process has been absolutely fantastic. We have had essential input from the team throughout, building on our existing strong long-standing relationship. At one of the most exciting times for autonomous vehicle technology it is fantastic to be forging a new way of working within the aviation sector. We are incredibly excited about the future and look forward to the wealth of new opportunities ahead.”
