Member Article

Tyneside wholesalers among cohort London Stock Exchange see as PLCs of tomorrow

North Shields wholesalers Kitwave Group have been chosen as one of 19 UK firms to join the London Stock Exchange’s new programme championing PLC’s of tomorrow.

The Tyne Tunnel Trading Estate-based firm, who have recently been on the acquisition trail, will join the ELITE programme - designed to support high growth private UK companies.

Skills and Enterprise Minister Matthew Hancock MP launched the 24-month programme this morning at Imperial College, London.

As part of the programme, Kitwave will have access to education services provided by Imperial College Business School and access to a select group advisers and investors.

Companies will have access to the programme’s ELITE Entrepreneurial Fellow, Sean Phelan, founder of Mulitmap and angel investor

ELITE follows the success of its Italian counterpart programme, launched in 2012 by Milan-based Borsa Italiana - Italy’s main stock exchange.

Xavier Rolet, CEO, London Stock Exchange Group, said: “Having witnessed the success of the ELITE programme at Borsa Italiana, we believe that the environment in the UK is ripe for a similar programme to support high growth businesses.

“Innovative businesses are often the most ambitious companies, but to get ahead they need new resources, new relationships and new funding which many businesses find challenging or time consuming to access.

“ELITE will provide high growth companies with the essential tools they need to develop and help foster a connected financial ecosystem, promoting the right type of funding for businesses at each stage of their journey.

“We firmly believe that these companies will fuel the long-term growth of the UK economy, and that ELITE is a unique platform to help them achieve their full potential.”

This was posted in Bdaily's Members' News section by Tom Keighley .