NorthEdge’s Accrol eyes AIM listing

Zeus Capital is acting as nominated adviser and sole broker for the listing.

The company is expected to list on 10 June 2016. Following the IPO, current CEO Majid Hussain will step down from his role, although the Hussain family will remain as shareholders. The new management team will be led by CEO Steve Crossley, who has previously held senior positions at Unigate and Northern Foods.

NorthEdge backed the company's £66m management buyout in July 2014, and the upcoming listing would mark a partial exit for the GP, as it will retain a minority stake in the business.

Since the 2014 investment, Accrol's headcount has grown from 300 to 450, while EBITDA has increased 13.7% year-on-year, according to NorthEdge.

Established in 1993, Accrol supplies tissue products to the UK premium and discount retail markets. The company claims to have a 23% share of the discount market and 7% of the overall UK tissue market. It manufactures a range of tissues from its facility in Blackburn and generated sales of £100m in 2015.

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• Exits
• UK / Ireland
• NorthEdge Capital
• IPO