Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Tekmar Group: 28-year-old leads £65mln float of North East manufacturer

James Ritchie fronted a management buyout of the company in 2011 when he was just 21
cable laying
The business manufactures protection system for subsea cables and umbilicals

North East-based manufacturer Tekmar Group PLC (LON:TGP), run by 28-year-old entrepreneur James Ritchie, made a flying start on its AIM debut.

The shares, priced at 130p each, moved to 140p in the first few minutes of trade.

Headquartered in Newton Aycliffe, County Durham, the company raised £61.8mln, which it will use to expand the business, which manufactures protection system for subsea cables and umbilicals.

Acquisitions on the horizon?

According to reports, around £10mln has been set aside for acquisitions.

Ritchie led a management buyout of the company in 2011 when he was just 21 backed by private equity firm Elysian Capital.

He said: "Today is an historic day for Tekmar, marking the start of the next phase of our planned expansion and development. 

"Being an independent quoted company brings additional advantages and prestige to the group and we firmly believe it will enable us to accelerate our growth and maximise our potential."


View full TGP profile View Profile

Tekmar Group PLC Timeline

Related Articles

scientist in lab
September 28 2018
Another of Amphion’s investee companies, Polarean Imaging, was floated on AIM earlier this year, and FireStar is the next one earmarked to go public
Male model
July 09 2018
Clothes maketh the man ... and the chances are, those clothes were bought from a website that uses ATTRQT's technology
Big lorry
August 25 2018
"Trains, planes and automobiles" - it's the name of a classic John Hughes film but it might also be a good title for the story of Seeing Machines

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use