Maternity-wear specialist, Seraphine, is on the brink of wrapping up its buyout process and subsequently delisting from the stock exchange. The offer, put forth by Bidco—Mayfair Equity Partners’ (MEP) subsidiary and majority-owner of Seraphine—has garnered almost 96% acceptance from shareholders. As the offer period draws to a close on April 6, Bidco will proceed to acquire the remaining shares and ultimately delist the company’s shares on April 8.

This development signifies the end of a tumultuous period for Seraphine on the stock exchange. The buyout offer has priced the company significantly lower at £15.3 million, compared to its initial listing price of £29.5 per share just 18 months ago. Nevertheless, prior to the offer, the company’s shares were trading at a mere 10p each. Despite grappling with a decline in revenue and a highly challenging business landscape, MEP remains optimistic about Seraphine’s potential. Founded by Cecile Reinaud in 2002, the company experienced substantial growth under her leadership until her retirement in 2020. Following a management buyout backed by MEP, the company was valued at £50 million, and MEP held onto a 40% stake when Seraphine went public in 2021.

MEP has expressed its intentions to invest in Seraphine post-acquisition, reflecting its confidence in the future growth and prosperity of the business. The completion of the buyout will enable Seraphine to operate independently from the stock exchange, potentially allowing it to revitalize its brand and expand its presence in the maternity-wear sector.

Useful links:
1. Seraphine Official Website
2. Mayfair Equity Partners Official Website