Ace: Wimbledon seating provider Arena Group aims to raise £60m as it serves London initial public offering

 
William Turvill
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The Championships - Wimbledon 2007 Day Four
Arena Group has worked with the All England Lawn Tennis and Croquet Club for 67 years (Source: Getty)

The company which provides seating and other facilities for Wimbledon, Cheltenham Races and other mainstays of the sporting calendar is to float on the London Stock Exchange.

Arena Group, which provides temporary physical structures to major sporting, outdoor and leisure events, is aiming to raise around £60m through floating nearly all of its shares.

Announcing its intention to float today, Arena wants to complete its initial public offering (IPO) on the Alternative Investment Market (Aim) on 25 July.

Cenkos is acting as nominated adviser and sole broker to the company, which is backed by private equity firm MML Partners and also has a relationship with Sports Investment Partners.

The company’s origins can be traced back to 1761: it has had a 67-year relationship with the All England Lawn Tennis and Croquet Club. It provides temporary structures, seating, food outlets, shops, ticket offices and the corporate hospitality area at Wimbledon.

In 2012 it provided numerous services for the London Olympic Games, and was behind the 14,000-capacity temporary grandstand at Horse Guards Parade.

Arena also has long-term partnerships with the Open Championship, HSBC Abu Dhabi Golf Championships, the US Open and the PGA Championship.

The company, which has 14 operational bases in seven countries, has also worked on the Commonwealth Games, as well as football and rugby world cups.

Chief executive Greg Lawless said: “I am delighted to announce that our plans to apply for admission to Aim 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.”

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