Prologic measures up for float

By THIS IS MONEY
Updated:

 

PROLOGIC, software provider to Paul Smith, Ted Baker and many other fashion retailers, staged a £7.5m stock market flotation today.

Founded in 1984 it provides software to manage the infrastructure of shop chains such as warehouse orders.

Entrepreneur Sam Jackson, who retains his 27% stake, led a management buyout of the business from its listed parent company Comino in 1999, with the backing of Lloyds Development-Capital. LDC today makes a complete-exit from the business, with £4.1m from its original investment of £1.6m.

Jackson said the float would end the uncertainty over its ownership structure, adding it would be looking to raise money in the next 18 months for international expansion.

Others on Prologic's high-profile client list include Jigsaw, Hobbs and the sailing set's casual brand Fat Face.

Most watched Money videos