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Mountfield raising cash for acquisitions after AIM floatation

Support services firm Mountfield Group today began selling shares after floating on the AIM market of the London Stock Exchange.

The group intends to raise cash to acquire additional businesses that will add further complementary services and cross selling opportunities.

Mountfield has issued 169.6 million shares at 10 pence each giving the firm a market capitalisation value of £16.96 million.

Chief executive Graham Read said: “There is great value for us in joining the AIM market so I am delighted at this successful admission which will enhance our commercial profile in the sectors in which we operate.

“It provides us with a means to acquire complementary businesses and being quoted on AIM will provide a way in which to incentivise both existing and prospective subsidiary company managers.

“Such acquisitions will be a fundamental component of our strategy. We are seeing an increased demand for secure data centres in the UK and elsewhere and so we are well placed to maximise on this growth.”

Mountfield’s three integrated subsidiaries deliver a range of construction and property services to the private sector.

The principal businesses specialise in the design, installation and fitting out of commercial office buildings and data centres.