Van Elle £80m AIM Listing

Client Background

Founded in 1984 by its Chairman Michael Ellis and his wife Joan, Van Elle is the UK’s largest geotechnical services provider with a dominant market position.

Van Elle grew significantly prior to its IPO, driven both by market share gains and the diversification of its offering into higher value specialist services, well aligned with infrastructure markets.

Rickitt Mitchell was appointed to lead a strategic options review and extensive preparation phase, followed by a wide-ranging triple track process involving trade, PE and IPO.

The Outcome

Van Elle successfully raised £40m by floating on the AiM market, valuing the business at £80m.

£30m of the funds raised were used to exit existing shareholders.

The Company used the £10m of primary funds raised to implement its three pronged strategy of market share growth, development of new products, services and geographies and the pursuit of strategic bolt-on acquisitions.

How we added value

Led a highly competitive and wide ranging process which included offers from PE and trade both in the UK and overseas.

Worked closely alongside management throughout the IPO to provide support and commercial guidance from the selection of NOMADs through to the subsequent complex flotation process.

Extensive project support including the creation of an integrated financial model which the company subsequently used for public financial reporting purposes.

Van Elle £80m AIM Listing

Client Background

The Outcome

How we added value

- Michael Ellis | Founder & Chairman | Van Elle Holdings

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