Supporting Power Probe's London AIM IPO
Mergers & Acquisitions
Sodali & Co is delighted to have supported Power Probe on its Initial Public Offering, as it joins the London Stock Exchange’s Alternative Investment Market (AIM) today. In conjunction with Admission, the Group successfully raised $15 million (£11.2 million) by way of a placing, giving the Company a market capitalisation on Admission of c. £60 million.
Power Probe is a leading producer of automotive electrical diagnostic tools for professional service technicians, headquartered in Charlotte, North Carolina, USA.
Admission to AIM marks an important step in the Group's ongoing development, accelerating its commercial progression and enabling the execution of the Group’s growth plans.
Commenting on the milestone, James White, Managing Director in Sodali & Co’s Strategic Communications team, said:
“Today marks a key moment in the Power Probe story and we are delighted to have supported the business around its London IPO. The float means that the company is now perfectly positioned to accelerate its growth, expand its global footprint, and further solidify its dominance in a rapidly evolving industry. This is not just a listing, it's a launchpad for the next chapter of Power Probe's success and we couldn’t be more pleased for Chema and his team.”
For more information, please contact the Sodali & Co team: James White, Tilly Abraham, and James Whitaker.
