Deal News: Seneca EIS backs Leading Electrical Safety Firm

Deal News: Seneca EIS backs Leading Electrical Safety Firm

Seneca Partners is pleased to have participated in the initial public offering of Premier Technical Services Group plc (AIM:PTSG).

The investment will support a market leader in attractive niche markets with a strong track record of growth. PTSG has a well established, industry leading operating model steered by a highly experienced and ambitious management team.

N+1 Singer brought the company to market by placing £3m of existing shares for current shareholders and £5m of new shares, the funds will be used for acquisitions and growth.

PTSG chief executive Paul teasdale said: “We are delighted to become the first Yorkshire-based business to IPO during 2015.”

“Since PTSG was established in 2007, we have grown year-on-year and we have chosen to IPO with a view to accelerating that growth”

“With approximately 2,000 individual contracts, many of those on multi-year terms and a high client retention figure of around 85 per cent. on annual orders, our portfolio of services and customer base provides significant cross-selling opportunities to complement our strategy of growth by acquisition.”

“Despite our success to date, we are acutely aware of the need continually to reinvest in the business to promote future growth, something which we are confident the IPO can help us to achieve.”

PTSG is the leading provider of facade access and fall arrest equipment services, electrical testing, high-level cleaning and specialist electrical and mechanical services in the UK.

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