Microlise, a leading provider of transport management software to fleet operators, is set to list on the AIM market of the London Stock Exchange as Microlise Group plc on 22 July 2021.
The Group has raised £61.2 million from investors through the issue of shares at a Placing Price of 135 pence per share, meaning Microlise has been valued at £156.5 million.
The decision to list on AIM will support Microlise’s next stage of development, including broadening the Group’s product offering and growing the business around the world.
Microlise was established back in 1982 and is an award-winning business with around 350 employees based at the Group’s headquarters in Nottingham. This forms part of a total staff of 500 globally.
Microlise’s transport management software helps fleet operators improve efficiency, safety and reduce emissions. These improvements are delivered through reduced fuel use, reduced mileage travelled, improved driver performance, fewer accidents, elimination of paperwork and delivery of an enhanced customer experience.
The company’s proprietary modular platform was specifically developed to provide an end-to-end technology solution for fleet customers. As a result, 58 per cent of UK large HGV fleet operators (defined as comprising more than 500 vehicles) use the Microlise platform. The Group has a diverse customer base, including organisations representing 88 per cent of the UK grocery retail market by market share. Other customers include Culina Group, DFS, Hovis, MAN Truck & Bus UK, and Yodel.
The listing will help Microlise realise the significant revenue potential within the existing customer base and up-sell and cross-sell Microlise’s products. The Group is looking to penetrate new geographies and market segments, including the market for smaller fleet sizes and different vehicle types, such as light commercial vehicles. Furthermore, the listing provides the opportunity to accelerate the Group’s growth strategy through targeted M&A.
The money raised will also support further investment in research and development.