Stock market float plan for chemicals company
A stock market listing on the Alternative Investment Market (AIM) is likely to be the favoured corporate finance move for Multisol Group, a chemicals distribution company with headquarters at Nantwich and a base at Irlam, Greater Manchester.
According to the Manchester Evening News, a private equity buyout had been mooted to increase investment funding but a listing is now expected in the next few months.
In April 2008, the firm's executive team organised a management buyout, with the previous owners retaining a stake, and installed Paul Oliphant as chief executive. He presided over sales of £113m and pre-tax profits of £5.4m in the year to March 31 2009.
Multisol distributes solvents, chemicals and lubricant additives in the UK, Europe and Africa. It also provides in-house facilities to blend, manufacture and package customised formulations.
A source quoted by the newspaper said, "Multisol is a real success story for the North West and works with some really big players."
The goal is to float the business on the stock market before the World Cup starts in June.
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