Lakehouse to list on Stock Exchange

Grant Prior 11 years ago
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Essex based contractor Lakehouse is planning to float on the Stock Exchange next month.

The move will cap a rapid rise for the firm which was founded in Romford in 1988.

Lakehouse currently employs 1,250 staff from 18 offices across London, the South of England, the East of England and Scotland.

Its four divisions are: Regeneration, Compliance, Energy Services and Construction.

Turnover at the group rose to £345m in the  year ended 30 September 2014 when Earnings before Interest, Taxes and Amortization were £21.9m at a margin of 6.3%.

Stuart Black, Executive Chairman of Lakehouse said: “We are delighted to be pursuing a potential listing on the Main Market and believe that this is the right time for the business to do so.

“Lakehouse has a strong financial and operational track record, strong client relationships and a focused strategy designed to exploit the growth opportunities in the market places in which we operate.

“The directors and senior management team, who have extensive experience and expertise in the support services and energy sectors, will be very much aligned to the interests of all stakeholders and the planned future success of the Group.”

The float is expected to raise £30m to fund further acquisitions and growth plans.

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