Chrystal Capital acted as joint adviser on the AIM listing of Escher Group Ltd, raising $25 million at the IPO.
Founded in 1989, Escher Group Limited is a leading provider of distributed messaging and data management solutions and services. Through its Riposte suite of products, Escher has been responsible for 3.4 billion transactions annually in over 30 countries.
“We’re looking forward to life as a public company and to being able to take advantage of the many growth opportunities open to us.”
Liam Church, CEO of Escher Group
The funds raised in the flotation will be used as growth capital, particularly to further develop and expand Escher’s revolutionary RiposteTrEx system, a universal digital postal mail product that has been described as “Facebook for business”.
The deal follows closely behind the £65 million convertible bond issue raised by Chrystal Capital Partners and ISM Capital for Sportingbet PLC, in May 2011. Chrystal has now completed six transactions in the past 12 months, helping to provide its clients with over $200million of capital.