GROWTH & FUNDING IPO FORUM
Two founders. Two IPOs. What happened next.
The companies that get the most from public markets are the ones that plan for what comes after admission - not just the transaction itself. Two Cavendish clients show what that looks like.
CLIENT STORIES
Both advised by Cavendish. Both proof that the IPO is a beginning, not an end.
Platform for growth
MHA
Professional services · AIM admission 2025 · Advised by Cavendish
"The public listing has helped raise the firm's profile in the talent market, allowing it to offer shares to staff as part of their pay packages. It enabled us to create a structure whereby we can attract and retain talent."
£98M
raised at IPO
£271M
market cap on admission
2
acquisitions since listing
Since listing, MHA has acquired Baker Tilly's South East Europe unit and Moore Stephens Dubai, launched a consulting division, and built an equity participation structure for staff. The IPO created a platform for the firm's ambition to become a top-10 UK professional services business - providing the capital, credibility, and talent infrastructure to get there.
Acquistion Engine
AMCOMRI
Professional services · AIM admission 2025 · Advised by Cavendish
"Our admission to AIM will help us continue to drive our proven growth strategy. We are excited by the opportunity to deliver significant returns."
£12M
raised at IPO
55p - 115p +
share price since admission
2-3
acquisitions targeted per year
Amcomri runs a Buy, Improve, Build strategy - acquiring and developing specialist UK engineering SMEs serving rail, power generation, and petrochemical infrastructure. Listed status accelerated the strategy: share-based acquisitions, institutional credibility, and access to a pipeline of over 9,000 identified target businesses. Revenue has grown from £47m to over £80m since founding.
ABOUT CAVENDISH
We advise founders and management teams across the full range of capital options - public markets, private capital, debt, and M&A.
Our role is to help you identify the right path for your business at the right stage, and to execute it well. MHA and Amcomri are two recent examples of what we mean by that.
The conversation about what the right path looks like for you starts with an honest assessment of your options.
FROM THE TEAM
EQUITY LANDSCAPE
Roger Lee
On what the UK IPO market actually looks like right now - and which businesses are best placed to use it.
INVESTOR APPETITE
Sector analyst briefings
Business Services, Consumer, TMT, Industrials - what investors are backing in each sector right now.
HAVE A CONVERSATION
Talk to Cavendish
If you're considering your options for the next stage of growth, we're happy to have a straight conversation about what makes sense for your business.