Seller

IPO

buyer

Van Elle £80m AIM Listing

- Exit deal

- October 2016

- Value: £80m

Led a highly competitive triple track process, with strong interest from trade, PE and public markets

Successfully raised £40m by floating on the AiM market with a market cap of £80m

Extensive and close strategic support ensured IPO readiness and maximum value achieved

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.

Van Elle £80m AIM Listing
Van Elle £80m AIM Listing

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.

“We are absolutely delighted to have successfully listed on the AiM market. I would like to thank Rickitt Mitchell for providing excellent strategic advice and long-term support to reach this historic milestone in our development.”

- Michael Ellis | Founder & Chairman | Van Elle Holdings
Seller

Acquired by

buyer

Exit deal

Value: Undisclosed

Oct. 31, 2021

Seller

Joint Venture

buyer

Growth deal

Value: Undisclosed

Oct. 13, 2021

Seller

Acquired by

buyer

Exit deal

Value: £9m

Sept. 30, 2021

Seller

investment from

buyer

Exit deal

Value: Undisclosed

Feb. 28, 2021