In conversation with Proactive's Stephen Gunnion, Glenn King, the CEO of Oakmount & Partners Ltd, shared an optimistic outlook for 2024, following a year that, despite its challenges, ended successfully for the company.
King elaborated on Oakmount's ambitious five-year plan to raise £50 million, aimed at investing in green technologies and industries capable of transformative impacts.
This investment strategy is poised to acquire high-value assets in sectors including agriculture, sustainable resources, strategic minerals, and notably, real estate, to leverage current market undervaluations.
SG: Glenn, with a month into 2024 already behind us, how has the year started for Oakmount, and what milestones are you aiming to achieve?
GK: The year kicked off on a very positive note for us. Despite the rollercoaster ride of 2023, we've started with a bang this January, laying a solid foundation for not just this year but our five-year strategic vision. Our primary milestone is our ambitious target to raise £50 million, focusing on green technologies and industries with the potential to change the world.
SG: Could you delve a bit more into these strategic milestones you've mentioned?
GK: Certainly. Our goal is to deploy the capital we raise into industries and ideas that are paving the way for a greener future. We're looking at high-potential assets across various sectors, including green technology projects, sustainable resources, strategic minerals, and real estate, where we see significant undervalued opportunities. Stakeholder engagement remains our top priority, ensuring we keep our clients and shareholders well-informed and engaged as we aim to increase our valuation from £15-18 million to £80-100 million within the next five years.
SG: Regarding potential acquisitions, are there specific targets that Oakmount has identified?
GK: Yes, we're actively exploring several opportunities that align with our green technology and strategic minerals investment strategy. We're particularly excited about finalizing a deal with a green mining initiative we've been involved with for over a decade, producing rare earth elements, lithium, and gold. This initiative perfectly aligns with our portfolio strategy to maximize profits and shareholder value.
SG: You mentioned a potential IPO in the next three to five years. Can you elaborate on the timeframe and conditions that might influence this move?
GK: Our timeline for the IPO is ambitious yet flexible, aiming for the next three to five years, depending on the inflow of capital and how our acquisition strategy unfolds. Market conditions, technological advancements, and AI's evolving landscape will play crucial roles in determining the exact timing. Our objective remains to transition to a PLC and maximize shareholder gains as efficiently as possible.
SG: Lastly, do you see Oakmount itself becoming an acquisition target in the future?
GK: It's certainly within the realm of possibility. As our assets under management grow and we continue to push up the value chain, Oakmount could attract attention as a potential acquisition target. However, my passion and ambition for what I do and the legacy I aim to build with Oakmount remain strong. We're looking forward to an exciting period ahead and continuing to make significant strides in our industry.