Power Probe to raise USD15 million as prepares for AIM float

(Alliance News) - Power Probe PLC on Thursday said it expects to float on London's AIM market on Thursday next week, with preparations for admission at an advanced stage.

The firm is based in Charlotte, North Carolina and is a "leading producer of automotive electrical diagnostic tools for professional service technicians".

The company said it is seeking to raise around USD15 million through a placing of new shares.

Revenue has grown from around USD25.0 million in 2022, to USD31.3 million in 2024, compound annual growth of 12%. Underlying earnings before interest, tax, depreciation and amortisation has increased from USD4.8 million to USD8.3 million over the same period.

In the first half of 2025, revenue reached USD20.5 million, gross profit totalled USD8.6 million, and underlying Ebitda was USD5.3 million.

Chief Executive Officer Chema Garcia said admission will "allow us to build on this culture of innovation, and we are particularly excited at the opportunity to open a state-of-the-art new US manufacturing facility, a strategic move designed to both strengthen our innovation pipeline and bring production capability physically closer to our critically important core market, increasing our overall production capacity."

Shore Capital and Corporate Ltd is acting as nominated adviser and Shore Capital Stockbrokers Ltd is acting as sole bookrunner and broker to the company in connection with the proposed placing and admission.

By Jeremy Cutler, Alliance News reporter

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