Growthdeck Achieves First IPO with Electric Motor Developer Saietta Group
by Growthdeck Team
29 July 2021News portfolio
Note: The contents of this article are the author's opinion and have not been approved as a financial promotion.
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We are excited to announce that our investment in electric vehicle developer Saietta Group achieved an IPO on London’s Alternative Investment Market, delivering up to 22x valuation to our early-stage EIS investors.
The AIM IPO, which took place on Wednesday 7th July, raised £37.5m of new investment, and gave Saietta Group a market capitalisation of c.£105m*. The IPO will allow the group – which takes high-end technology and develops it for low-cost mass production – to establish a motor durability testing facility and expand European production capacity to 100,000 motors per year.
Simon Emary, our COO, says:
“Saietta is a business we have believed in from the beginning and we are delighted to reach the point of a successful IPO.”
“This investment shows EIS working exactly as it should – providing an exciting, fast-growth British business with the capital to scale up and reach the next stage of its development.”
“Saietta’s technology is at the cusp of mainstream adoption and is set to play a major role in the electric motorcycle market in the near future.”
For more information, please see the press announcement over on Private Equity Wire: Growthdeck achieves first IPO as electric motor developer Saietta Group delivers up to 22x for investors.
The Saietta Group IPO is our second major exit, following the successful sale of part of our holding in upscale gym chain 1Rebel to Candy Ventures, the growth investment vehicle of property investor Nick Candy.
* As of 9th July 2021
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