Kelso Group, an activist investor, is actively backing Selkirk Group’s upcoming IPO, signaling confidence in the AIM market.
- Selkirk Group plans to list on London’s AIM market with support from Kelso Group, an investor known for its activism.
- The initiative targets undervalued UK companies across consumer, technology, and digital media sectors.
- Kelso has taken significant steps by acquiring 2.5 million shares in a recent THG plc placing, elevating its total shareholding.
- The backing by Kelso showcases a strategic move to exploit growth opportunities in undervalued markets.
Kelso Group, noted for its activist investment strategies, has turned its attention to the Selkirk Group, supporting its forthcoming IPO with plans to trade on the AIM market in London. Selkirk Group, under the proposed chairmanship of Iain McDonald—a veteran with over 14 years as a non-executive director for THG and current advisor to its board—aims at acquiring undervalued UK companies in sectors such as consumer, technology, and digital media. McDonald also serves on the board of Boohoo, bringing extensive experience to Selkirk’s venture.
The strategic backing by Kelso Group is part of its broader vision to unlock hidden value in the UK stock market, which it perceives as undervalued. Sir Nigel Knowles, Chair of Kelso Group, remarked on the necessity for swift action to capitalize on these opportunities, emphasizing the value AIM provides as a growth-centric trading platform—even as the number of listed companies diminishes.
Selkirk Group, with Kelso’s backing, seeks to raise £7.5 million on the AIM market, focusing on its initial target—a company valued between £30 million and £1 billion. This venture aligns with Kelso’s strategic moves in the market, including its recent acquisition of 2.5 million THG shares, raising its total holding to 7.5 million shares.
Knowles further advocated for government support toward the AIM market, citing it as crucial for small and growing British businesses. He underscored the collaborative potential with Belerion Capital within Selkirk’s defined investment sectors, fostering growth and market stability amidst fluctuating economic conditions.
The involvement of activist investor Kelso Group with Selkirk’s IPO underscores a forward-looking approach in navigating and exploiting growth prospects within undervalued markets.
