TIDMRBGP
RNS Number : 2211O
RBG Holdings PLC
08 February 2021
8 February 2021
RBG Holdings plc
(the "Group")
New Managing Director at RBL & Convex Capital Update
RBG Holdings plc (AIM: RBGP), the professional services group,
is pleased to announce that Barry Roche was appointed as Managing
Director of the Group's law firm, Rosenblatt Limited ("RBL" or the
"Firm"), on 30 January 2021.
In addition, the Board provides a further update on the positive
progress at Convex Capital Limited ("Convex Capital"), the Group's
specialist sell-side corporate finance boutique.
New Managing Director at RBL
Working alongside RBL's senior management team, Barry will
report to the Group CEO, Nicola Foulston, who previously held the
role. In February 2020, Barry joined RBL as interim Chief Operating
Officer to help lead the Firm's expansion. As Managing Director,
Barry will be looking at new ways to develop the Firm's business
including identifying new growth areas, enhancing the Firm's
business development strategy, and boosting team performance
through resource allocation and skill development.
Barry brings considerable operational and management experience
to RBL having spent his early career in The Royal Marines. On
leaving the Marines, Barry built a support services business from
start-up to eventually becoming a market-leading company
nationally, before it was acquired in 2009 by PHS Group. In 2009 he
was one of the founders of Protection Vessels International, a
maritime security business, and in 2012 he founded Protection Group
International, a Cyber Security and Intelligence business that
worked extensively with large corporates and governments. He
remains a non-executive director of both companies.
Barry will help the Firm in the next stage of its development
after a strong 2020 which saw RBL achieve its best financial
performance (in terms of revenue, EBITDA and gross margin) since it
was founded in 1989. RBL successfully adapted its strategy to the
market changes caused by the Covid pandemic, including increasing
its capacity in its Employment and Insolvency & Restructuring
practices. The Firm's investment in IT infrastructure over the last
two years has meant a seamless transition to home working, which
allowed performance and client service to be maintained during
2020.
Along with Nicola Foulston and the other divisional heads, Barry
will present at the Group's Capital Markets Day on 24 February 2021
from 10 a.m. to 12 p.m. If you wish to attend, please email:
RBGP_CMD@n1singer.com
Convex Capital Update
After the disruption of 2020, Convex Capital has continued to
convert its strong pipeline into completed transactions. Further to
the update on 28 January 2021, Convex Capital has concluded another
two deals, bringing the total since 1 January 2021 to three
completed transactions, resulting in total fee income to date of
GBP1.1 million. Positive progress continues on several other
transactions.
RBG Holdings plc Group CEO, Nicola Foulston said: "RBL has gone
from strength to strength in 2020 adapting brilliantly to the
challenges presented by Covid. In his spell as interim COO, Barry
showed he fitted perfectly into the Firm's entrepreneurial culture
and will help drive RBL's success over the coming years. We have
identified many growth areas, and I look forward to working closely
with Barry on delivering on them.
"Furthermore, we are pleased by the great start to 2021 at
Convex Capital. Last year, the pandemic made deal completion
difficult, but CEO Mike Driver and his team continued to build a
strong pipeline of opportunities, which are now being converted. We
expect to see an increase in M&A activity this year with both
Convex Capital and RBL set to benefit."
Enquiries:
RBG Holdings plc Via SEC Newgate
Nicola Foulston, CEO
N+1 Singer (Nomad and Broker) Tel: +44 (0)20 7496 3000
Shaun Dobson / Alex Bond (Corporate
Finance)
Tom Salvesen (Corporate Broking)
SEC Newgate (for media enquiries) Tel: +44 (0)7540 106366;
Robin Tozer/Tom Carnegie rbg@secnewgate.co.uk
About RBG Holdings plc
RBG Holdings plc is a professional services group, which
includes one of the UK's pioneering law firms, Rosenblatt Limited,
which is a leader in dispute resolution.
RBL provides a range of legal services to its diversified client
base, which includes companies, banks, entrepreneurs and
individuals. Complementing this is the Firm's increasingly
international footprint, advising on complex cross-jurisdictional
matters. RBL's practice areas include dispute resolution, financial
crime, corporate, banking and finance, insolvency and financial
restructuring, construction and projects, employment, financial
services, IP/technology/media, real estate, regulatory and tax
resolution.
The Group also provides litigation finance in selected cases
through a separate arm, LionFish Litigation Finance (UK) Ltd
("LionFish"). LionFish finances litigation matters being run by
other solicitors in return for a significant return on the outcome
of those cases. As such, the Group has two types of litigation
investments - RBL's own client matters, and litigation matters run
by third-party solicitors. LionFish is positioned to be a unique,
alternative provider to the traditional litigation funders.
The Group also owns Convex Capital Limited, a specialist
sell-side corporate finance boutique, based in Manchester. Convex
Capital is entirely focussed on helping companies, particularly
owner-managed and entrepreneurial businesses, realise their value
through sales to large corporates. Convex Capital identifies and
proactively targets firms that it believes represent attractive
acquisition opportunities.
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