A successful engineering and manufacturing group, similar to Melrose Industries, is in the works for a London flotation worth £50m. According to sources, Sky News has learned that Amcomri is collaborating with bankers at Cavendish to launch their initial public offering later this year. Although details of the listing have yet to be finalized, an insider has revealed that the company is likely to debut on the stock market in the autumn.
Founded in 2016, Amcomri currently employs nearly 400 individuals and has acquired nearly a dozen small and medium-sized industrial businesses since its inception. In recent news, Nestle has announced the return of a classic chocolate bar for one last time, while a Gen-Z freelancer platform has secured $9m from investors.
Amcomri’s deputy chairman, Paul McGowan, is a well-known figure in the retail sector due to his previous role as the head of Hilco Capital, the former owner of music and entertainment chain HMV. The company has been compared to a “mini-Melrose”, the renowned industrial investor that has acquired numerous large companies including the automotive and aerospace group GKN. In fact, Melrose’s founders have recently listed a new vehicle, Rosebank Industries, to replicate their successful approach of “buy, improve, sell” in the corporate world.
Although smaller in size, Amcomri’s potential flotation will bring newfound energy to the recovery of London’s new listings pipeline. Reports confirm that Canal+, a French television business, is set to be listed in the City by its parent company, Vivendi. In addition, Shein, the popular Asian online fast-fashion giant, is actively exploring a UK float.
When approached for comment, a spokesperson for Amcomri declined to provide any further information. As this story develops, stay tuned for updates on the progress of Amcomri’s London flotation.
