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Ground engineering specialist Van Elle set to float on London Stock Exchange

Ground engineering specialist Van Elle intends to float on the London Stock Exchange by the end of the month, Construction News understands.

The Nottingham-based company has been in growth mode in recent years, posting a turnover of £84.2m for the year to 30 April 2016 and boosting pre-tax profit to £10.7m, up from £7m the year before.

This year marked the company’s third consecutive year of double-digit growth in turnover.

In 2015, it reported a turnover of £73.6m and more than doubled its pre-tax profit to £7.2m over the same period.

The firm has grown profit for six consecutive years.

In 2010 pre-tax profit stood at £400,000, growing significantly each year since to break the £10m barrier in its most recent accounts.

Van Elle’s pre-tax margin now stands at 12.7 per cent, up from 9.6 per cent in its previous results.

The business was founded in 1984 by chairman, Michael Ellis. Other senior figures in the company include chief executive Jon Fenton and group managing director Tom Lindup.

It has offices in Nottingham, Ashfield, Norfolk, Washington (UK), Warrington, Scotland and Hereford.

In its most recent accounts, Mr Fenton said the results demonstrated the group’s aim to continue to grow.

“This has been achieved through the development of our staff and a considered strategy in the procurement of plant, most notably in rail and open site piling, which has been supported by the acquisition of additional land and further development of our facility in Kirkby-in Ashfield,” Mr Fenton said.

Van Elle works across a number of sectors including airports, commercial, education, rail, highways and housing.

Recent projects include a £12m waste transfer station in Kirkby, with main contractor Galliford Try and a 70,000 sq ft commercial job with Seddon in Chester.

It is understood the contractor has started its ‘roadshow’ period, which is when the company’s management meets with potential investors.

A spokeswoman for Van Elle confirmed that the company intended to float but declined to comment any further.

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