The FINANCIAL -- London Stock Exchange on October 26 welcomes Van Elle, one of the leading UK geotechnical, piling and foundation engineering contractors, 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, according to London Stock Exchange.
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.”