Selkirk Group is set to start trading on London’s AIM market later this month, backed by THG’s activist investor, Kelso Group.
Selkirk is based in London, but its proposed chair is Belerion founder, Iain McDonald, who was an early THG investor and spent over 14 years as a non-executive director, he remains an advisor to THG’s board. He’s also a non-executive director of Boohoo.
The company said it was targeting undervalued companies in the UK across the consumer, technology and digital media sectors, and its first acquisition would be a company with an enterprise value of between £30m and £1bn.
“Kelso is moving into the next phase of its corporate development with pace, to try and capitalise and unlock value on the undervalued UK stock market,” said Kelso Chair Sir Nigel Knowles.
“We are pleased to have created Selkirk and that it has partnered with Belerion Capital to create value within its defined sectors. We are pleased to support AIM with Selkirk’s IPO which we believe, despite a large reduction in companies listed in recent years, is one of the best growth exchange platforms in the world. We would encourage the British government to do everything in its power to support the AIM market as it is the lifeblood for many small and growing British businesses.”
Selkirk hopes to raise £7.5m on the AIM market.
Separately Kelso confirmed that it had participated in the THG plc placing announced last week and had acquired 2.5m new shares, which takes it total holding to 7.5m shares.
