National Accident Helpline (NAHL Group), a UK consumer business focused on the personal injury market owned by Inflexion Private Equity, has announced it will list on AIM, according to a statement.
The pricing for NAHL Group has been set at 200 pence per share, giving the business a market capitalisation of £82.5 million (€102 million, $139 million). The shares will start trading on 29 May.
Inflexion will retain a 15 percent shareholding in the company, worth £12.4 million at the float price, bringing its total realised and unrealised return to 3.7x.
Inflexion has owned the business since 2009 when it acquired a stake from Lloyds Development Capital (LDC). Together the firms owned about 60 percent of the business. Following the IPO, both Inflexion and LDC will own 15.01 percent each in the business.
Under Inflexion’s ownership period earnings have grown by around 30 percent. It also helped NAHL Group with the ‘The Underdog’ animated marketing campaign, which drove a 50 percent increase in enquiry volumes in 2013 compared to pre-Underdog levels, the firm said.
Inflexion made the investment in NAHL Group using capital from Inflexion Private Equity III, a £165 million vehicle raised in 2006.
The firm is currently investing its latest buyout fund, a £375 million, 2010-vintage vehicle. In January, the firm acquired a majority stake in Succession Holdings Limited, a UK-based wealth management business. In the same month, Inflexion sold Optionis Group, a UK employment services company, netting the firm a 3.5x return.