LongAcre launches European expansion

LongAcre Partners, the corporate finance house established last year by Olswang with backing from JP Morgan, has made its first move towards European expansion with the acquisition of Nordic corporate finance firm Lommen. Based in Stockholm, Lommen was established in 1998 and has a similar client base to LongAcre. Both firms specialise in advising on small- and mid-cap transactions in the technology, media and telecommunications sectors, one of LongAcre’s most recent clients being Elisabeth Murdoch’s independent film and television production start-up Shine Entertainment, which secured £6m from 3i.

It was this synergy between the companies which, according to LongAcre’s Jonny Goodwin, motivated the ‘opportunistic merger’, which was initiated by Lommen. Goodwin, who describes the Nordic region as a hotbed of ideas and entrepreneurs, states that the merger of the two firms will allow the combined operation to enhance its cross-border capabilities by assisting Nordic TMT businesses in accessing the UK capital markets, and UK capital in locating M&A opportunities in the Nordic region. Lommen Corporate Finance has now been renamed LongAcre Nordic. The enlarged business now comprises 27 professional staff.

Further European expansion remains on the cards; however, this is likely to be achieved by organic rather than acquisitive growth. Formerly located in Olswang’s offices, LongAcre has now established its own premises. Contact details are: LongAcre Partners, 77 Long Acre, London WC2E 9LB; tel: 020 7759 4600 and fax: 020 7759 4699.

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