Housing maintenance group Inspace, which has sites in Birmingham, Leeds, Manchester, Newcastle, Norwich and Southampton, is looking to raise £30 million in a flotation on the Alternative Investment Market this month.
Inspace, which employs 25 people in Birmingham, operates in the market of maintaining social housing stock and also has a strong presence maintaining property portfolios for FTSE 350 companies.
For the year ended December 31, Inspace reported turnover and profit before tax of £ 107 . 3 million and £6.3 million respectively. The group also has a strong order book of £300 million.
Colin Enticknap, who was appointed executive chairman of Inspace in January following 12 years as chief executive of Willmott Dixon, said yesterday: "Inspace is a strong business, with a great bunch of people, operating in a growth sector for high quality customers. The AIM listing is an important step for the whole team, and instrumental in helping to unlock our growth plans."
Meanwhile, a Staffordshire, software and services company plans to bring its shares to the AIM market at the end of this month.
Brewin Dolphin Securities, nominated adviser to eg solutions in Penkridge, is in the process of raising £2 million net for the company by way of a share placing with financial institutions. Depending on the terms, eg solutions is expected to have a market value between £12 million and £15 million.
Brewin Dolphin is forecasting a profit of £1.1 million on sales of £5.6 million for the year to January, 2006. Last year it made £900,000 on sales of £4.1 million.
Elizabeth Gooch, managing director, founded eg solutions in 1988.
"I've had great ambitions for this company from the beginning," she said yesterday.
"The flotation on AIM is the next important step in achieving these goals.
"We have made a huge impact on operational efficiency and effectiveness within the financial services industry in the UK.
" We now want to broaden the geographic scope of the business and apply our proven approach to new areas including the public sector."