Window maker Eurocell to IPO on the London Stock Exchange
Window and door maker Eurocell has announced its intention to float on the London Stock Exchange, as a number of small companies clamour to list before the General Election in May.
"We have a clear strategy to drive future growth by maximising benefit from our vertically integrated model, continuing to roll out our branch network, driving greater cross-selling of our full range within these branches and converting our customer insight and in house development capacity into new products," Patrick Bateman, chief executive at Eurocell, said.
"We believe that the successful listing of Eurocell will provide the ideal platform to take advantage of these exciting opportunities and to deliver value for our shareholders in the future," he said.
In the 12 months to December, Eurocell had sales of £173m and operating profit of £20m.
Eurocell's owner private equity group H2 Equity Partners bought the firm from Belgian-based food and agriculture firm Tessenderlo two years ago.
Meanwhile, asset and energy support services group Lakehouse announced its intention to float, while Hugarian budget airline Wizz Air rescheduled its float after pulling the plug last June amid market voliatitly.
Wizz Air's revenues climbed 24 per cent to €727m (£549m) for the first half of its financial year.
Lakehouse booked revenues of £345m in the year to September 30.
"We are delighted to be pursuing a potential listing on the main market and believe that this is the right time for the business to do so. Lakehouse has a strong financial and operational track record, strong client relationships and a focused strategy designed to exploit the growth opportunities in the market places in which we operate", Stuart Black, executive chairman said.
"The directors and senior management team, who have extensive experience and expertise in the support services and energy sectors, will be very much aligned to the interests of all stakeholders and the planned future success of the group," Mr Black said.