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Arena Group to float on London Stock Exchange

Event infrastructure supplier Arena Group has announced plans for a stock market launch.

The multinational company, which supplies temporary structures, seating and project management services to large-scale live events, will list its shares on the London Stock Exchange (LSE) and hopes to raise approximately £60 million to grow its business.

Arena Group’s live-entertainment clients include Lollapalooza in Chicago, the Jockey Club (whose Jockey Club Live divisions promotes shows at racecourses around the UK) and BFI, for which the company last year designed a pop-up cinema venue. It in April acquired Wernick Group’s seating division, rebranding it Arena Seating.

“I am delighted to announce that our plans to apply for admission to AIM [LSE’s Alternative Investment Market] are moving ahead, as it marks a key milestone in the development of the group. We believe the listing will not only raise our international profile but will also enable us to provide additional incentives, by way of a share option scheme, for our senior executive team around our global operations.

“We look forward with confidence to this next stage in Arena Group’s development”

“The new funding leaves us with a significantly stronger balance sheet and provides us with the necessary funding, as well as access to further capital, to will help us to continue to grow the business both organically and by way of potential acquisitions.

“We are very fortunate to have a loyal and dedicated workforce of 750 employees across our 14 international bases, and the successful floatation of the group is a testament to their hard work and support going back many years.

“We look forward with confidence to this next stage in Arena Group’s development.”

 


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Arena Group expands seating biz with Wernick buy

Arena Group, a multinational supplier of temporary structures, seating and project management services to large-scale live events, has acquired the seating division of UK firm Wernick Group.

The multimillion-pound deal see Arena Group, which has offices throughout the UK, Europe, the Middle East, Asia and the Americas, gain 30,000 new temporary grandstand seats, scaffolding, deck and truss, bringing its UK stock to more than 120,000.

The business has been rebranded Arena Seating, and will continue to be based in Coventry, led by current general manager Steve Shaw.

“This deal [will] will consolidate our strength as the UK’s premier event seating supplier”

Grahame Muir, the CEO of Arena Group UK and Europe, comments: “We are delighted to have completed this deal, which will consolidate our strength as the UK’s premier event seating supplier. We are focused on achieving a seamless integration of the business into Arena Seating while retaining the Coventry base and thus improving our service level across the UK.”

Shaw, who will report to Arena UK and Europe sales and marketing director Dave Withey, adds: “The whole team in Coventry feels very excited at the opportunities ahead of us, thanks to the investment and significant additional resources of the Arena Group behind us. This will benefit all of our clients as we focus on improving the quality and range of equipment we can offer them.”

 


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