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‘Green’ Technology Firm Secures £20m HSBC UK Growth Funding As Part Of AIM Listing

After its AIM London Stock Exchange listing on Thursday 22 July, Microlise – a leading provider of transport management software to fleet operators – enters the next stage of its development with the support of a £20m revolving credit facility provided by HSBC UK.

Nottingham-based Microlise is an award-winning business with around 350 employees based at the Group’s headquarters in Nottingham, as part of a total staff of 500 globally. Microlise operates predominantly in the UK and has offices in France, India, and Australia.

To further enhance its technical capabilities and research and development programme, the funds secured through the Initial Public Offering (IPO) provides an opportunity to deliver targeted M&A which will fast-track the company’s growth in new geographies and market segments.

Microlise’s transport management software helps fleet operators improve efficiency, safety and reduce emissions. The technology allows Microlise’s customers in the logistics industry to make significant cuts in fuel costs per year, reducing greenhouse gas emissions.

Due to its sustainability credentials, Microlise will receive on admission the London Stock Exchange’s Green Economy Mark – a status which recognises companies that derive 50 per cent or more of their total annual revenues from products and services that contribute to the global green economy.

Nadeem Raza, CEO at Microlise, commented: “The IPO will allow us to accelerate our growth strategy as we embark on a new chapter as a listed company. Our acquisition strategy enables us to continuously improve our technologies and technical capabilities and unlock profitability for customers while reducing their environmental impact.

“We want to thank HSBC UK and, in particular, Relationship Director Phil Carr and his colleagues, who worked closely with our CFO Bill Wynn and Finance Director Nick Wightman throughout the process.”

Debbie Harper, HSBC UK Area Director for East Midlands, added“Microlise, an existing customer, came to us with a requirement for a seamless financial provision to help deliver its ambitious expansion plans across Europe. The company offers customer-focused solutions to improve business outcomes both from a sustainability and financial perspective, which is crucial in today’s landscape. We look forward to working with the team as they embark on this exciting growth period.”

The legal firm acting for HSBC UK on all aspects was Pinsent Masons, led by Partner David Doogan and Senior Associate Oliver Morgan.

Microlise’s platform is utilised by organisations representing 88 per cent of the UK grocery retail market by market share. Other Customers include Culina Group, DFS, Hovis, MAN Truck & Bus UK, and Yodel.

The business won Queen’s Awards for Enterprise in the International Trade category in 2018, followed by Innovation in 2019.