Amcomri Group, which has acquired nearly a dozen small industrial businesses, is working with bankers at Cavendish on an autumn flotation, Sky News learns.
By Mark Kleinman, City editor @MarkKleinmanSky
A specialist engineering and manufacturing group which resembles the prominent acquisition vehicle Melrose Industries is plotting a £50m London flotation.
Sky News has learnt that Amcomri is working with bankers at Cavendish on an initial public offering that would take place this year.
Details of the listing have yet to be finalised, but one insider said an autumn stock market debut was likely.
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Founded in 2016, Amcomri employs nearly 400 people, having acquired nearly a dozen small and medium-sized industrial businesses since it was set up.
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Its deputy chairman is Paul McGowan, a prominent figure in Britain’s retail sector from his time running Hilco Capital, the former owner of music and entertainment chain HMV.
The company has been likened to a “mini-Melrose”, the industrial investor which acquired a string of large companies including the automotive and aerospace group GKN.
Melrose’s founders have just listed a new vehicle, Rosebank Industries, to replicate their “buy, improve, sell” approach to corporate ownership.
While small in size, Amcomri’s potential flotation will breathe fresh life into the recovery of London’s new listings pipeline.
Canal+, the French television business, is to be listed in the City by its owner, Vivendi, while Shein, the Asian online fast-fashion giant, is continuing to explore a UK float.
A spokesman for Amcomri declined to comment.