An events company that supplies catering equipment and high-end tableware to corporate clients has announced plans to list its shares on the London Stock Exchange.
Wimbledon-based Arena Group is seeking to raise a total of £60m from UK and international institutional investors and listing will help fund the future growth plans of its business.
The business provides managed solutions from concept and design through to the construction and delivery of temporary structures, seating and interiors for a host of major sporting, outdoor and leisure events around the world.
It also specialises in the provision of commercial catering equipment and event furniture. It has a wide range of crockery, cutlery, glassware, furniture and linen available for event hire, and counts some of the UK’s top PLCs, blue chip companies, exclusive venues and stately homes among its client base.
Greg Lawless, CEO of Arena Group, said: “I am delighted to announce that our plans to apply for admission to AIM are moving ahead as it marks a key milestone in the development of the group. We believe the listing will not only raise our international profile but will also enable us to provide additional incentives, by way of a share option scheme, for our senior executive team around our global operations.
“The new funding leaves us with a significantly stronger balance sheet and provides us with the necessary funding, as well as access to further capital, that will help us to continue to grow the business both organically and by way of potential acquisitions.”
Arena Group employs 750 staff and operates 14 international offices.