Fox Williams acted for P2i Limited in relation to its fundraising of £4.1m from new and existing shareholders to support its accelerating commercialisation and international growth.
P2i is the world leader in liquid-repellent nano-coating technology. It was established in 2004 to commercialise liquid-repellent treatments developed by the Ministry of Defence. Its revolutionary technology helps customers protect and improve a wide and growing range of products including performance textiles (such as hiking and military boots, running and golf shoes), hearing aids, laboratory consumable such as pipette tips and a wide range of filtration products.
This series of funding comes as P2i accelerates its growth across a wide range of markets. New investor Swarraton Partners led the fundraising round together with Naxos Capital Partners. Existing shareholder Unilever also participated in the round.
The Company’s chief executive, Carl Francis commented: ‘This substantial new investment, particularly in light of today’s tough fundraising environment, is a clear endorsement of our leading position in liquid repellent nano-technology. It will enable us to exploit the international and multi-market potential for the Company and underpins our ability to work on an equal footing with some of the world’s leading industrial, scientific and consumer brand players’.
On Fox Williams, Carl commented: “We were extremely pleased with the crucial role Fox Williams played in our funding round. They proved themselves to be pragmatic, responsive and they successfully and consistently controlled the agenda and set the pace”.
Mark Tasker acted on behalf of P2i and he was assisted by Sharon O’Donnell, an associate.
Swarraton and Naxos were advised by Ashfords. Existing shareholders were represented by Mayer Brown (Unilever), DLA Piper (Porton Capital), CMS Cameron McKenna (Ploughshare).