Ogier advises Power Probe in connection with successful London IPO

Ogier’s Corporate team in London, acting as local counsel alongside UK lead counsel, has advised Power Probe, a leading producer of automotive electrical diagnostic tools, in connection with a corporate restructuring and successful initial public offering (IPO) on the London Stock Exchange’s Alternative Investment Market (AIM) Market.

Founded in 1992 and headquartered in Charlotte, North Carolina, Power Probe produces powered electrical products for a host of automotive customers worldwide. Through its AIM IPO, the company raised £11.2 million via a placing of new ordinary shares, resulting in a market capitalisation on admission of £60.4 million.
 
Ogier's Corporate team in London was led by partner Richard Bennett working with counsel Hannah Diss and provided advice on the group's restructuring in preparation for the flotation.