25 May 2012

Designcapital eyes AIM float

11/02/2011 Robert Tyerman

Upmarket furniture design investor designcapital is contemplating a move to raise nearly £2 million on AIM Italia, Milan’s market for smaller young companies with growth potential.  

Already listed on AIM in London, the acquisitive concern, whose French subsidiary Artelano is soon to open a furniture showroom in Mayfair, believes that listing in Italy will make it easier to do deals with key local players in the furniture design business.

Executive chairman Frédéric Bobo, a French investment banker, is targeting a quadrupling in sales to around £10 million for designcapital, which floated in London three years ago at 10p.

The company has been going through restructuring and, having halved its interim loss to £1.2 million on sharply reduced turnover of £2.5 million, is looking at expansion after raising £190,000 at 11p in November.

Bobo explains that designcapital is looking to take over businesses, usually distressed and family owned, in Europe and North America as it pursues growth in the ‘high-end, but not luxury’ furniture business.

Tags: AIM Italia, Furniture, Milan

Sector: General Financial

Companies: Designcapital

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