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Business Serve ISP Floats

Posted: 05th Feb, 2004 By: MarkJ
UK business ISP Business Serve is celebrating a successful £15 million Alternative Investment Market (AIM) listing on 3rd February 2004:

Multi-million pound AIM float for B2B ISP

Business to business ISP, Business Serve plc, is celebrating after a successful £15 million Alternative Investment Market (AIM) listing on 3 February 2004.

Founded via a series of mergers starting in March 2000, Business Serve plc provides a range of Internet services to more than 18,500 customers around the country. The fast growing firm employs over 180 people across its sites in Salford, Lancaster, Bradford and London.

Business Serve is the first ISP to float since the end of dotcom frenzy of the late 1990s.

Managing Director, Simon Cleaver, said: "We are extremely excited about the float as it places us firmly in position to become a reckonable force within the ISP marketplace.

Our strategy has always been to focus on the acquisition of established customer bases and ISP infrastructure within the fragmented ISP market, in addition to the organic growth of the Company, and the flotation will enable Business Serve to place an increased emphasis on this strategy.
"

Accountancy firm Baker Tilly guided Business Serve's directors through the deal. Manchester-based Corporate Finance partner, Gary Houghton, says: "Business Serve's flotation on AIM truly reinforces the message that the AIM market is open for business again with activity levels generally on the increase.

This is a focussed and dynamic business led by individuals determined to succeed in a tough and highly competitive sector. Today's AIM float is a major step in the company's ongoing development.
"

DWF in Manchester provided the legal advice and City firm, Teather & Greenwood acted as nominated brokers.
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