Notts engineering firm goes for AIM flotation

A Nottinghamshire engineering business has announced that it plans to float on the AIM market.

Van Elle has an annual turnover of £84m and headed up by co-founder and chairman Michael Ellis and chief executive Jonathan Fenton.

It employs around 520 staff from offices in Kirkby in Ashfield, Norfolk, Tyne and Wear, Warrington, Hereford and Scotland and provides ground engineering services to the construction, rail, housing and civil engineering sectors.

Van Elle hasn’t disclosed how much it intends to raise on the IPO or how much this will value the company at, but has said it will reveal the figures later this month.

Val Elle has seen its turnover increase to £84.2m for the year to the end of April 2016, from £45.6m just two years earlier.

Its operating profit stood at £11.1m, up from £3.1m in 2014.