London Stock Exchange welcomes Nexus Infrastructure to AIM

London Stock Exchange today welcomes Nexus Infrastructure plc (“Nexus”) on the first day of dealings in the Company’s shares following its successful admission to AIM.

Nexus is a leading provider of essential infrastructure services to the UK housebuilding and commercial sectors. The Group comprises two businesses: Tamdown, a provider of specialised infrastructure services; and TriConnex, which designs, installs and connects utility networks to properties on new residential and commercial developments.

Tamdown provides a range of specialised infrastructure and engineering services to the UK housebuilding and commercial sectors. Services include carrying out earthworks, remedial work, building highways, substructures and basements, creating drainage systems, as well as constructing reinforced concrete frames. The business has a well-established market position having been in operation for 40 years and currently counts among its customers a number of blue-chip companies and nine of the top ten largest UK housebuilders. Tamdown’s operations are focused on the South East of England and London.

TriConnex designs, installs and connects gas, electricity and water networks and, more recently, fibre, on new residential and commercial developments. TriConnex was established in 2011 to take advantage of deregulation in the utilities market with the goal of being recognised as the UK’s leading independent provider of utility connections to new developments. TriConnex’s current areas of operation include the South East and South West of England.

The Group is led by an experienced and entrepreneurial management team who have a track record of growing the business over the past 17 years. During this time the business has remained profitable, including during the most recent recession. For the year ended 30 September 2016, the Group reported revenue of £135.7 million and Adjusted Operating Profit of £11.0 million representing an Adjusted Operating Profit Margin of 8.1 per cent. As at 31 May 2017 the Group’s Order Book stood at £187.0 million. The Group has a strong culture of service delivery and innovation.

The initial public offer priced at 185 pence per share, giving the business a market capitalisation of approximately £70.5 million on admission.

Nexus will be admitted to the AIM Market of the London Stock Exchange at 08.00am on the 11 July 2017 under the ticker NEXS.

Mike Morris, Chief Executive Officer of Nexus said:

"We are delighted to announce the successful completion of our admission to the London Stock Exchange and the interest shown in Nexus by investors. As a listed company we look forward to the future with confidence and to continuing to deliver long term value creation for all our stakeholders.

"A key factor behind the success of the business has been the hard work, professionalism and enthusiasm of our staff and I would like to record my thanks to them on this important day."

Numis Securities is acting as NOMAD and sole bookrunner and broker. The lawyers on the IPO were Mills & Reeve and Hogan Lovells. Grant Thornton UK LLP acted as accountants and the financial PR remit was managed by Camarco.