Pro-Bel announces IPO plans11 May 2006
It has emerged that Pro-Bel advised staff and dealers just prior to NAB that advisors had been appointed to plan an IPO for the company in Q4 of 2006.
The company had a good Vegas, adding to its Vistek product line with the launch of the Cifer HD/SD standards converter and introducing a re-engineered version of its Masterpiece HD master control unit amongst other news.
Graham Pitman, chief executive of Pro-Bel, explained the decision. "Pro-Bel has demonstrated very high levels of organic growth over the last three years, virtually doubling our revenue, " he said. "Last year’s acquisition of Vistek has already been a great success and our technological choices are meeting with firm market approval. We have one of the best operating profits in the segment and this year we anticipate revenue to grow to around $60 million. We have always been an innovative company and our customers are excited about our vision of the future. We believe an IPO is the most effective means of enabling us to pursue that vision."