IT infrastructure provider Softcat, which opened its regional office in Leeds in February, is to float on the stock market.
The company started as a software licensing reseller as Software Catalogue before shortening its name as it moved into the business-to-business market. Twenty years later it has expanded its services to now include datacentre infrastructure and networking and security requirements,
The Buckinghamshire company employs about 850 people, and plans to have 40 people in Leeds by the end of the year, after choosing the city for its fourth regional office. It also has sites in London, Manchester and Bristol.
In the three years to July 2015, Softcat increased its revenue organically by £200m to £596.1m, while adjusted operating profit rose from £28.1m to £40.6m.
Martin Hellawell, chief executive officer of Softcat said: “We have successfully grown Softcat with a clear vision and purpose.
“Our growth model is simple but effective – grow our business with existing customers and win new customers, while continuing to offer a world class service. By continuing to focus on these key areas, we believe that we can continue to drive the growth of our business and, as a consequence, create shareholder value.”
The float will see around 25% of the company made available, with the proceeds going to existing shareholders.
