DWF advises Zeus Capital on Accrol Papers AIM flotation

Leading legal business DWF has advised Zeus Capital, the nominated adviser and sole broker to Accrol Papers, who are set to float on the AIM on 10 June, with a valuation expected to be about £100m.

Accrol Papers is a fast growing toilet roll company which employs over 520 workers at its 350,000sq ft Blackburn factory. Over the last 12 months 100 further employees have joined the company following a £66m investment from Manchester-based private equity firm NorthEdge.

Accrol produces brands such as Softie, Triple Softie, Mega and Handy and has had a 14% increase in revenue over the past year to nearly £100m.  It launched in 1993 and currently manufactures about 16 million units and has 35% of the discount market and 7% of the overall UK tissue market.

The DWF team consisted of Frank Shephard, Lisa Stavropoulos and Nicholas Hawthorne.

Frank, who led the deal at DWF, said “We are delighted to have acted for the Zeus team on another successful IPO. It further demonstrates the expertise that DWF has in the public markets as we continue to act on IPOs in the region with mandates for both company and nomad. We are also delighted that the national ECM team has further been strengthened by the arrival of Matthew Doughty to lead the London Corporate Team.”


Frank Shephard

Partner - National Head of Corporate

I am Head of the National Corporate Team. I deal with all types of public and private company transactions, including M&A, Private Equity and Equity Capital Markets.