Small Cap Awards 2024: Broker of the Year Nominees

Inaugurated in 2013, the Small Cap Awards is an annual event celebrating and rewarding the finest in the sub-£350m market cap quoted company sector.

The Awards celebrates those professionals and companies that work within the AIM and Aquis communities and is attended by listed companies, institutions, fund managers, brokers and advisors.

The 2024 Awards will take place on Thursday 13th June 2024 at One Moorgate Place in London.

The nominees for Broker of the Year include:

Peel Hunt

Peel Hunt is a leading UK investment bank. We focus on long-term success and helping companies to grow and scale. We have a strong track record of enabling companies to access capital and to ensure that they have the backing of investors to help them achieve their goals. This incorporates accessing both domestic investors as well as portfolios from across the globe, not only from traditional geographies such as North America and Europe, but increasingly from the Middle East and Asia Pacific.

We have an integrated approach, which combines best-in-class research and distribution with a broad range of investment banking services and an execution platform that provides liquidity across the UK capital markets. We currently have 145 corporate clients, which stretches from smaller businesses through to the FTSE100 and encompasses both AIM and fully listed companies. We also have a private capital markets team, which focuses on connecting private companies with potential investors. Our M&A team has been highly active given the level of transactions incorporating UK companies.

Peel Hunt is leading the debate on the structural issues in the UK equity market, which has experienced three years of outflows every month from UK funds. This has resulted in low valuations vs private companies and global peers, which has driven a surge in M&A activity and resulted in de-equitisation of the London market. We are discussing with government, regulators and other interested parties mechanisms to encourage capital back into the UK to reverse the long-standing trend towards globalisation of portfolios and the increase in allocation to passive funds and larger companies. This is essential to ensure that we retain a vibrant capital market that is supportive of UK growth companies for the benefit of the UK economy, shareholders and taxpayers. 

Canaccord Genuity

Canaccord Genuity (“CG”) is a diversified financial services group, a public company quoted on the Toronto Stock Exchange with over 2,400 employees, revenues of $1.5bn and c.$66bn of assets under management (of which over c.£34bn is in the UK alone). CG has over c.$870m of balance sheet capital, ensuring significant stability in all international offices.

Canaccord Genuity (UK) (“CGL”) is a fully integrated investment banking business with global reach, but a focus on the SMID market. CGL is the largest fundraiser on AIM over the past 3 years in both size of funds raised and number. This success has been achieved from having one of the largest SMID corporate broking franchises in the UK. CGL is currently corporate broker to c.90 listed businesses, with an average market capitalisation of c.£180m. CGL offer NOMAD, Sponsor & Takeover Code services to its clients.

In the UK and globally, CG focuses on clear sector verticals being: Technology; Sustainability, Resources, Financials and Consumer & Business Services.

2023 was a highly successful year for CGL as it executed 2 of the largest 3 IPOs on the stock market. CGL following this up in 2024 by executing the largest fundraising to date on AIM (£54m for Invinity Energy Systems). Key to CGL’s success is its corporate focused service model, coupled with operational and financial stability which has enabled it to prosper despite depressed market conditions.

Cavendish

Cavendish is a leading UK-based financial services group that specialises in providing expert advisory services to ambitious growth and investment companies. The Group operates across various industry sectors, offering comprehensive solutions in equity capital markets, mergers and acquisitions (M&A), debt advisory, and growth capital.

With offices in London and Edinburgh, Cavendish has a strong domestic presence in the UK. Additionally, through its membership in Oaklins, a global alliance of leading M&A advisory firms, the company has a global reach, enabling it to serve clients worldwide. Cavendish Financial plc is a publicly listed company on the Alternative Investment Market (AIM) of the London Stock Exchange, providing transparency and accountability to its stakeholders.

Success in 2023/24

The financial year 2023/24 showed strong growth and impressive financial performance for Cavendish. Several factors have contributed to the company’s success during this period:

Successful Merger and Integration: The merger of finnCap, finnCap Cavendish, and Cenkos has created a powerful financial services group with a diverse range of expertise and capabilities. The successful integration of these entities has enabled Cavendish to leverage synergies, streamline operations, and deliver enhanced value to its clients.

• Robust Deal Pipeline and Execution: Cavendish’s strong performance in the second half of the financial year can be attributed to the completion of multiple high-profile deals across various business segments. The company’s ability to execute complex transactions for its clients, spanning equity capital markets, M&A, and growth capital, has solidified its reputation as a trusted advisor.

• Strengthened Balance Sheet: Cavendish has focused on strengthening its financial position, as evidenced by the significant increase in cash reserves from £12.3 million at the half-year mark to approximately £20.8 million as of March 31, 2024. This strong balance sheet provides the company with greater resilience and flexibility to navigate market dynamics and pursue growth opportunities.

• Cost Synergies and Operational Efficiencies: By realising annualised synergies of £7 million from the merger and implementing further cost-saving measures, Cavendish has successfully reduced its overall cost base. This has resulted in improved operating leverage, enhancing the company’s profitability and competitiveness. Diversified Service Offerings and Industry Expertise: Cavendish’s diverse range of services, spanning equity capital markets, M&A, debt advisory, and growth capital, coupled with its industry-specific expertise, has enabled the company to cater to the diverse needs of its clients across various sectors. This comprehensive approach has contributed to the company’s success and strengthened its market position.

Despite the challenging market conditions, particularly in the UK equities market, Cavendish’s strong performance in the second half of the financial year, robust pipeline, and strategic initiatives position the company for continued growth and success in the years ahead.

Singer

Singer Capital Markets is a leading investment bank dedicated to supporting ambitious UK growth companies.  We have specialist capabilities, deep experience and a proven track record of client success in the UK small and mid cap market. Our business is built on over 100 years of capital markets heritage and is today one of the largest corporate stockbroking platforms in the City of London.  We are passionate about supporting exciting UK businesses at all stages of their corporate growth journey, whether that be with advice, access to growth capital or liquidity. We have the capabilities to support our clients in both debt and equity capital markets and have extensive experience executing IPOs, Secondary Placings, Block Trades and Private Capital, as well as M&A mandates.  In 2023 Singer Capital Markets traded well over £10 billion across all markets and ended the year with 10% market share on AIM, positioning the firm as one of the top 3 trading platforms in London. The firm continued its momentum across investment banking, with 15 deals executed across ECM and M&A, 9 new corporate clients across 6 sectors and the launch of the Singer Debt Capital Markets business. The momentum at the firm has resulted in 16 consecutive years of profitability.