Leeds’ Clipper Logistics announces IPO
Leeds-based logistics firm Clipper has announced its intention to proceed with an initial public offering of ordinary shares to investors.
The group, founded by Steve Parkin in 1992, is a providers of value-added logistics solutions and e-fulfilment to the retail sector in the United Kingdom, with an expanding business in Germany.
The firm reported that adjusted EBIT for the year ended April 30 2014 is estimated to have been £9.6 million, an increase of 10.3% on the year before.
The Group provides consultancy services within the online fashion and non-food sectors to its blue chip client base including ASOS, The John Lewis Partnership, Asda, SuperGroup, Morrisons, New Look and Tesco.
Steve Parkin, executive chairman of Clipper said: "We have built a strong position in e-fulfilment and UK retail logistics over the last 21 years.
"By leveraging the strength of our customer proposition and focus on customer service and innovative new products, we have been able to deliver organic growth and an IPO is the next logical step to support our ambitious growth plans. We are extremely excited about this next phase in the Company’s development.
"The IPO is the next landmark in the exciting development of Clipper, providing a platform for management to accelerate growth. I look forward to continuing my journey with Clipper, working with the Board, management and shareholders."