London Stock Exchange welcomes first ELITE UK Company IPO
- Engineering specialist, Van Elle, raises £40 million, valuing it at £80 million
- Company joined ELITE in April 2014, as part of first UK cohort
- Demonstrates UK’s ability to grow and support ambitious businesses
London Stock Exchange today welcomes Van Elle, a leading UK geotechnical, piling and foundation engineering contractor, to AIM, London Stock Exchange Group’s (LSEG) market for smaller, growing businesses. The company successfully raised £40 million, valuing it at £80 million. Van Elle is the first UK member of ELITE, LSEG’s international business support programme, to have gone public.
Nottingham-based Van Elle was founded in 1984 by current Chairman, Michael Ellis and his wife Joan Ellis and today employs over 500 people. Through ELITE, Van Elle senior management have received practical knowledge on how best to access the different sources of finance, be that venture capital, private or public equity, to help the business continue to grow and create employment across the country.
Umerah Akram, Head of ELITE UK:
“This is an important IPO, not just for Van Elle, but for growing businesses across the UK. It demonstrates the ability of ELITE to truly unleash the potential of ambitious dynamic companies by giving them access to finance and financial knowledge. Today also shows that investors are looking beyond macro-issues and taking the time to understand individual company growth stories.”
Michael Ellis, Chairman, Van-Elle:
“Both my CEO, Jon Fenton, and I have learnt a great deal from being part of ELITE. It is a unique programme that brings together like-minded entrepreneurs from across the UK with some of the best advisers, investors & business academics in the country. As we float today on AIM, we are very excited about the opportunities this presents the company to encourage further growth.”
Further information on the ELITE programme can be found online: www.elite-growth.com
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For further information:
+44 (0)20 7797 1222
Notes to editors:
ELITE offers businesses a full programme to help them grow, including education, business support and direct contact with Europe’s financial and advisory community. In the UK, Imperial College Business School helps deliver the programme. Management teams are guided on how best to fast-track their development and capital raising processes, how to access the most suitable funding for their needs, whether private equity, venture capital or the bond or equity markets, and given advice on building their profile and reach.
ELITE also allows its vibrant international advisor and investor community the opportunity to engage with a pool of high quality, dynamic companies and entrepreneurs, all of whom are open to the advice, opportunities and connections that the programme offers.
There are over 400 businesses from 23 countries across 30 sectors, generating over £25 billion in the ELITE community.
For further information on the programme, companies and the full list of partners, please go to: www.elite-growth.com
About London Stock Exchange Group
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.
LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people.
Further information on London Stock Exchange Group can be found at www.lseg.com