14.06.2012

Kimberly may float

UK based access and telehandler rental company the Kimberly Group, has said that it is considering a flotation on the Alternative Investment Market (AIM) next year to help fund further growth, including acquisitions.

The company, which is backed by venture capital firm Lloyds Development Capital, is expecting to generate revenues in the region of £23 million this year, with Earnings Before Interest, Tax, Depreciation, and Amortisation of £6.5 million. Kimberly operates through three subsidiary companies: Kimberly Access, 1st Access Rentals and High Level Platforms.

Chairman Ray Ledger said: “I’m looking at acquisitions which would increase our geographical coverage. We are currently in the early discussion stages with some potential opportunities. If we can achieve those and if we can achieve the organic growth we expect then next year we would look at a possible Aim float, depending on market conditions at the time.”

"We have taken on a further 18 people so far this year, bringing our total headcount to over 100. We will also be looking for more staff with the new refurbishment depot in Pontefract. We are also looking at Aberdeen and Cardiff as possible new depot locations for us.”