Stephen Hemsley
Franchise Brands, the international multi-brand franchisor, has announced its intention to float on the AIM market and raise up to £3.5m for further business acquisitions, particularly in the business-to-consumer service sector.
Stephen Hemsley (executive chairman) and Nigel Wray (non-executive director) founded Franchise Brands in 2008. The pair have substantial experience in the franchise sector through their involvement with Domino’s Pizza in the UK.
The company operates three franchises, ChipsAway (mobile car paint repairs), Ovenclean (mobile domestic oven cleaning) and Myhome (domestic cleaning).
Franchise Brands has over 350 franchisees in its network across 12 countries, but the UK is the predominant market. The company’s annual turnover last year was £4.37m with pre-tax profits of £1.11m.
Hemsley commented: “We are delighted to announce our intention to join AIM. Since 2008 we have built a profitable business in our existing brands as well as having developed a platform of central services such as marketing.
“A flotation will allow us to capitalise on this strong foundation and further expand the group through the acquisition of complementary businesses.
“We have in place a highly experienced management team and Board and I am pleased to have reunited a number of the individuals that I have worked with previously over many years at Domino’s.”
Allenby Capital Ltd., and Dowgate Capital Stockbrokers Ltd., are acting for Franchise Brands. The expected first date of trading on AIM is 10th August 2016.
For further information contact Allenby Capital Ltd., on 020 3328 5656.