Microlise to list on AIM of Stock Exchange after raising £61m

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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.

Established in 1982, Microlise is an award-winning business with around 350 employees based at the Group’s headquarters in Nottingham, as part of a total staff of 500 globally. Microlise operates predominantly in the UK and has offices in France, India, and Australia. 

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.

Microlise’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 support further investment in research and development.  In 2020, Microlise launched its Planning & Optimisation module to support operators to plan quickly and accurately to achieve a lower cost of completion. Earlier this year, Microlise launched its Trailer Brake Performance Monitoring technology, and has an advanced pipeline of other product developments. With more than 150 people in its development function, Microlise can deliver bespoke solutions to customers with specific or complex requirements.

Nadeem Raza, CEO, Microlise, said: “With an established track record of growth, proven management, and a market-leading position in providing technology solutions to fleet operators, Microlise is well set to capitalise on what we believe to be a major growth opportunity. Our customers are under pressure to meet increased environmental regulations and want more integration across supply chains. In addition, the challenges of the pandemic and Brexit have raised even greater awareness of the need to optimise the movement of goods efficiently and sustainably. 

“As well as raising the profile of the Group and increasing our ability to attract and retain the best talent, our listing will support the next stage of our development. This development means continued product innovation, growing our international operations, and entering new market segments such as light commercial vehicles. The listing will enhance our ability to serve and support our existing, as well as new customers. We are very excited about the future.”

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