A transport management software company that counts Yodel, Hovis and Man Truck & Bus among its customers will list on AIM later this week after raising just over £62mln.
The cash injection will be used to fuel growth at Microlise Group Ltd, which will join the junior market with a valuation of £156.5mln based on a share price of 135p.
It said it will invest in upsell and cross-sell opportunities, which it hopes will significantly increase its revenue base, while it will also grow by “targeted M&A”.
Founded almost 40 years ago, Microlise employees 350 at its Nottingham headquarters and a further 500 in offices across the UK, France, India, and Australia.
Its software helps fleet operators improve efficiency, safety and reduce emissions.
Chief executive Nadeem Raza said: "With an established track record of growth, proven management, and a market-leading position in providing technology solutions to fleet operators, Microlise is well set to capitalise on what we believe to be a major growth opportunity.
“Our customers are under pressure to meet increased environmental regulations and want more integration across supply chains.
“In addition, the challenges of the pandemic and Brexit have raised even greater awareness of the need to optimise the movement of goods efficiently and sustainably.”
The shares are expected to start trading on July 22.