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11 July, 2022 - 19:10 By Tony Quested

Mills & Reeve advises Randall & Quilter on $133m fundraisings

Mills & Reeve in Cambridge has advised Randall & Quilter, the non-life global specialty insurance company, on its placing and direct subscription to raise around $125 million and open offer to garner up to $8m. 

Bermuda-based Randall & Quilter is focused on program management and legacy transactions.

In April Business Weekly reported that Mills & Reeve had advised Randall & Quilter on a $632.4m takeover by Brickell Insurance Group in Miami. 

Mills & Reeve has acted for Randall & Quilter for the last 15 years including helping to redomicile the firm from the UK to Bermuda in 2013. It has also advised on numerous AIM fundraisings as well as several bank and debt facilities, including listed debt securities.

The Mills & Reeve team advising R&Q included partners James Hunter and Frances Churchard; principal associates, Emma Plaxton, Rachel McDonnell and Sofie de Pfeiffer; senior associate, Tom Samuel and trainee solicitors Omar Nwoko and Emma Clarke.

Emma Plaxton said: “We have enjoyed a longstanding relationship with R&Q and we were really pleased to work alongside them again on this significant transaction. Our role involved working with US and Bermuda counsel as part of a cross-jurisdictional team to support R&Q.”

Numis Securities and Barclays Bank acted as joint global coordinators and joint bookrunners, and Numis acted as nominated adviser. 

Conyers Dill & Pearman provided Bermuda law advice and Mayer Brown provided US securities law advice to the company, while Simmons & Simmons acted as legal adviser to Numis and Barclays.

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