London Stock Exchange welcomes Van Elle Holdings plc to AIM
London Stock Exchange today welcomed Van Elle Holdings plc to a ceremony, marking the admission of its shares to trading on AIM.
Headquartered in Pinxton, Nottinghamshire, Van Elle is the UK’s largest geotechnical contractor. The Group offers a wide range of ground engineering techniques and services to customers in a variety of UK construction end markets including the new-build residential, infrastructure, commercial, industrial and public non-housing sectors.
Van Elle’s end-to-end solutions encompass: site investigation, driven, bored, drilled and augered piling and ground stabilisation services. In addition, the Group develops, manufactures and installs precast concrete products for use in specialist foundation applications.
The Company raised £40 million, of which £10 million is new money. On admission, Van Elle Holdings plc is expected to have a market capitalisation of £80 million.
Admission will position the Group for its next stage of development, including further raising the profile of the Group, incentivising employees and providing it with a well-funded platform for future growth. Admission will also enable the Selling Shareholders to realise, in whole or in part, their investment in the Company.
Peel Hunt LLP acted as Nominated Adviser, Bookrunner and Broker to the Company. Rickitt Mitchell was Financial Adviser to the company. The Lead Manager was finnCap Ltd. Eversheds LLP provided legal counsel. Instinctif Partners provided strategic public relations advice.
Michael Ellis, Chairman, commented:
“We are absolutely delighted to have successfully listed Van Elle on the AIM market. We have worked tirelessly over the last thirty-two years to build the company in to the established market leader that it is today. There is significant opportunity ahead and the listing will help us to accelerate the growth of the business.”
Jon Fenton, Chief Executive, commented:
“We have a clear three-pronged strategy for growth centred on growing market share, developing new products, services and geographies and targeting bolt-on acquisitions. As a listed company we will be able to fast-track the implementation of that strategy and I look forward to reporting on our progress as we embark on the next stage of our exciting journey.”