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Microlise Group float on AIM with a valuation of £156.5 million

July 2021

 

Microlise is a leading provider of transport management technology solutions, delivering a globally enabled SaaS platform that digitises the business processes of enterprise organisations running highly complex logistics operations. As at 31 December 2020, the Group had over 400 enterprise customers and over 500,000 vehicle subscriptions.

The Group’s award winning platform (Microlise currently holds three Queen’s Award for Enterprise awards) was specifically developed to provide an end-to-end technology solution for enterprise fleet operators. The Company’s hardware and software technology solutions capture and analyse millions of real-time transport and logistics data events each day to allow fleet operators to improve across a range of KPIs, including operating efficiency, GHG emissions, and safety standards. In particular, the platform supports decreased fuel usage by reducing vehicle mileage travelled and improving driver performance, achieving quantifiable reductions in GHG emissions.

Microlise is an established leader in supplying transport management software to large fleet operators, with 58 per cent. of UK large HGV fleet operators (defined as comprising more than 500 vehicles) using its platform. The Company has a diverse customer base including organisations representing 88 per cent. of the UK grocery retail market by market share.

Its operations are predominantly based in the UK whilst the Group also has offices India, France and Australia.

 

Admission to Trading on AIM

On 22nd July 2021, admission and dealings commenced by way of a Placing of 13,777,778 new Ordinary Shares and 31,521,540 existing Ordinary Shares at 135 pence per share giving a valuation of £156.5 million.

 

Reasons for Admission and Use of Proceeds

The Directors believe that the Placing and Admission will provide capital for Microlise’s next stage of development, further enhance the Group’s profile with its customers and assist with the recruitment, retention and incentivisation of senior management and employees at all levels of the Group.

The Company expects to receive net proceeds from the Placing of approximately £14.3 million. The net proceeds will be used principally to invest in targeted bolt on acquisitions to enhance the Group’s product portfolio and geographical reach.

The Perivan shareholder communications team were delighted to work with Singer Capital Markets who were appointed as Nominated Adviser, Broker and Sole Bookrunner to Microlise on the successful publication of the 180-page admission document.

 

Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.

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