Zeus Capital completes entu’s £66m entry to AIM
30th October 2014
Zeus Capital has acted as sole broker and sole bookrunner to UK energy efficiency and home improvement specialist entu on its £33m institutional fundraise and AIM IPO. On admission, the business had a market capitalisation of £66m.
Founded in 2006, entu offers multiple energy efficiency products and services for the home through independent, own-brand, regional operators. These operators benefit from entu’s nationwide installation network ‘Job Worth Doing’, as well as its centralised customer service and corporate functions. Products sold by the group include energy efficient windows, doors, conservatories and external and cavity wall insulations together with solar power generation products and energy efficient boilers.
Since its inception, entu has grown both organically and through strategic acquisition, with its innovative business model allowing the company to be nimble, and adapt its portfolio rapidly to reflect changing trends in the sector.
Ian Blackhurst, Chief Executive Officer at entu commented:
“I am delighted at the level of institutional support we have received. In a highly fragmented market, we believe entu is unique. We are a fully integrated home improvements and energy efficiency business with a UK-wide reach. We see exciting opportunities to grow, by developing our product offering and leveraging our unified brand and website – and so bringing more choice and benefits for our customers.”
Dominic King, Director of Corporate Broking at Zeus Capital commented:
“We are delighted to have advised entu on its AIM IPO. The £33 million placing will put the Group in a very strong position to continue its rapid growth, whilst the listing on AIM will provide a solid platform for the group’s future development.”