Delamode, a division of the Xpediator Plc announces the successful listing on the AIM market of the London Stock Exchange. Xpediator PLC is the holding company for the Xpediator Group which trades under several brands.
The original business, trading as “Delamode”, was established in 1988 by Stephen Blyth (the Group’s Chief Executive Officer), providing freight forwarding services in the UK. The Group has since evolved into an integrated freight management business operating in the supply chain logistics and fulfilment sector across the UK and Europe with a particular focus on, and expertise in, Central and Eastern European (“CEE”) countries.
The Group has three main business areas:
- Freight forwarding services, trading under the Delamode brand, and specialising in connecting CEE countries and the UK.
- Logistics and warehousing which comprises: distribution hubs in the UK and southern Europe providing over 39,000 sqm of shared user space; pallet distribution services, where the Group is the master franchisee of a fast growing pallet distribution network in Romania which trades under the Pall-Ex brand; and the recently acquired EMT business which is based in London and specialises in fashion logistics.
- Transport services, trading under the Affinity brand, providing bundled fuel and toll cards, financial and support services for hauliers in southern Europe.
The Group currently employs over 600 people, with operational headquarters in Braintree, Essex, and country offices in Bulgaria, Lithuania, Estonia, Macedonia, Montenegro, Moldova, Romania and Serbia operating across a total of 22 sites. This network of offices provides regular and direct services linking Eastern Europe, the Balkans and the Baltics with Western Europe, together with logistics and warehousing capabilities in the UK and Romania.
- £5 million was raised pursuant to the Placing of 20,833,333 new Ordinary Shares with institutional and other investors at the Placing Price of 24 pence per share
- Market capitalisation of Xpediator on Admission is £24.2 million (based on the Placing Price)
- The net proceeds raised by the Company will principally be used to execute the Group’s acquisition strategy but also to accelerate the Group’s organic growth plans including expanding the products offered by Affinity, expansion of facilities and IT improvements and further development of EshopWedrop, the Group’s e-commerce operations
- SP Angel is acting as nominated adviser and joint broker and Cantor Fitzgerald Europe is acting as financial adviser, bookrunner and joint broker to XpediatorXpediator’s TIDM code is XPD and its ISIN number is GB00BF6P5V92
Xpediator CEO Stephen Blyth says, “Our successful IPO and admission to AIM represents a significant transition for the Company. As an experienced provider of freight management services across the UK and Europe, our extensive understanding of transport and distribution especially within Central and Eastern Europe has drawn strong interest from investors. By taking the business public, we can now expedite our organic growth strategies as well as pursue targeted acquisitions to take advantage of a highly fragmented marketplace.”