£30m IPO of Velocity Composites raising £14.4m

May 18, 2017 / Announcements

finnCap, the fast-growing adviser and broker to ambitious companies, is delighted to have advised Velocity Composites plc (“Velocity”) on their IPO and associated £14.4 million fundraise, valuing Velocity at £30.4 million. The fundraise was multiple times oversubscribed and attracted a broad range of blue chip institutions and wealth managers.

Velocity manufactures advanced composite products for the aerospace industry. By utilising its process knowledge, business processes and proprietary software Velocity reduces the amount of material required by its customers and associated material waste when making aircraft parts. These efficiency savings help aircraft manufacturers reduce costs and increase production rates which allows them to more readily meet the significant increases in aircraft build rates.

Jon Bridges, Chief Executive Officer and co-Founder of Velocity, commented:
“We have been very impressed with the whole finnCap team during the IPO process and they demonstrated a thorough understanding of our business’ drivers and assisted us in ensuring that investors understand Velocity. Throughout the process they were focused on helping us to achieve our goals and in de-risking the process for us, which resulted in significant institutional support and has allowed us to continue developing our business throughout the IPO period. We look forward to our next chapter as a publicly quoted business, working alongside finnCap to deliver on our targets.”