About

Spinnaker Acquisitions Plc (SPAQ) is a purpose-built cash shell that will offer its acquisition target a route to a public listing that is an alternative to an IPO. The Reverse Take–Over (RTO) process is not very different in content to an IPO, but working with SPAQ offers a number of compelling advantages:

• The SPAQ team are seasoned in public listings and will be active partners, adding management bandwidth to the process
• SPAQ team members can help source appropriate and cost–competitive advisors, saving time and money
• The funds brought by SPAQ underpin the listing costs and de-risk the raising of additional funds and therefore add certainty to the outcome
• The SPAQ investors contribute to LSE free–float requirements on admission

The model we are following is that of predecessor Spinnaker Opportunities Plc which completed the acquisition of medical cannabis business Kanabo Research Ltd to form Kanabo Group Plc in February 2021. This has proven very successful for investors in both Spinnaker and Kanabo.

In common parlance, a cash shell such as Spinnaker Acquisitions Plc might be called a SPAC, but it is on a smaller scale than might be implied by the North American use of the term. We see our hot spot for pre–money valuation in the range £5–30M.

Our Strategy

SPAQ was formed to undertake the acquisition of a company, business or asset by Reverse Take–Over (RTO)

Our efforts in identifying a prospective target company or project are focused on opportunities in the Sustainability and/or Energy Transition (Green Economy) sector.

Prospective target companies or projects should be operating in a sub–sector that makes the business eligible to attain the London Stock Exchange Green Economy Mark.

With interest in the green economy as keen as it is at present, the general objective is to find a business valued at £5–30M that has profit potential and likely market appetite.

SPAQ team members take no cash fees in order to preserve the maximum amount of cash for the combined business. A share–based success fee will be earned upon completion of the RTO.

Listing a business via an RTO is a way of raising growth capital and increasing business reputation and profile. It does not represent an immediate exit event for founders, management or investors. Shareholders of the target business will receive listed shares which may be at a valuation premium to prior rounds but which are likely to be locked in for at least 12 months.

Acquisition Targets

Characteristics of the Target Business

• Operating in a sector eligible for LSE Green Economy Mark
• Has revenues, but need not yet be profitable
• Technology–knowledge–intensive rather than capital–intensive at this point
• Addressing an opportunity that makes it clearly scalable
• Has investor–appeal and must not simply be green–washing
• Not dependent for success on government grants or subsidies

Characteristics of the Management Team

• Competent, ambitious and motivated to stay with the business through its next growth phase

Our Process

• We operate a two–stage screening and selection process to arrive at mutual exclusivity
• Our approach is as investors in your business, not as an alternative management
• Due Diligence has its place, but in the end, we invest in people

Contact Us

• If you have any queries, wish to receive regular updates or consider yourselves a suitable target business we would love to hear from you!