Over £18 million in private equity fundraisings in 2012 for P2i

Transaction: Bates Wells acted for P2i Limited on a series of three private equity fundraisings, including a £12 million private equity fundraising from OMBU Group and NAXOS Capital Partners, two of the five existing private equity investors. This was followed by two rounds of subsequent financing from both existing and new investors to support the continued rapid growth of P2i Limited. Bates Wells advised P2i and its management on the funding and the reconciliation of competing shareholder interests.


Client: P2i is an award-winning technology company established in 2004 to commercialise liquid-repellent treatments developed by the MoD. Its patented nano-coating technology is applied to a wide range of products and materials – from footwear to consumer electronics – making them liquid repellent without changing the look or feel of the object. This technology is now a world leader. P2i has received a number of prestigious awards including the Best Use of Technology Award at the Fast Growth Business Awards, the Most Innovative Company in Europe Award at the International Business Awards and the Borderless Business Award at the Management Today Business Hero Awards. P2i has raised nearly £50m since it was established.

Lawyers: Mark Tasker (Partner) and David Davies (Partner) led the team acting for P2i, assisted by Natalie Knight-Wickens (Associate).

Observation: P2i are a long standing client, at the forefront of technology and we are delighted to have assisted them with a number of fundraisings over the past few years.

Mark Tasker, Head of Corporate & Commercial team at Bates Wells, comments:

“Our team has acted on over 35 AIM deals between them across a variety of sectors and jurisdictions and is well placed to offer commercial pragmatic advice to both companies and financial advisers. Bates Wells also has a strong practice advising private companies in particular innovative technology companies from small start-ups to more established companies such as iGate.”