Norcliffe Mining Services (Norcliffe) is an acquisition vehicle for quality businesses in the fast-growing mining services sector – and it is getting ready to list on the ASX mid-year. Norcliffe has recently been featured in an article by Stockhead.

The article opens with the statement of Charlie Massarella, Managing Director of Norcliffe: 

"We are a holding company, closing the acquisition of two quality brands in the mining services sector, one East and one West coast based, each with a good quality client base. They are good quality businesses, well run and with solid earnings history and reputation. The combined business leverages synergies across a vertically-integrated national business model in both client delivery and service offering,"

According to Stockhead, Norcliffe has quickly grown into a national business platform for mining services. Following completion of the acquisition, Norcliffe is on course for revenue growth of 25 per cent year on year in FY 2021 to $54m, after chalking up revenue of $43m in the FY 2020. 

Earnings for the company are forecast at $15.7m for FY 2021, up from $11.4m a year earlier.

Norcliffe is scheduled to list on the ASX in the middle of the year and its management are currently meeting potential investors in Australia’s major cities. Massarella said:

"We have started a pre-IPO capital raise for $9.5m and we are meeting potential investors and looking to an IPO in late May to early June. Investors are excited to see a quality company with growing earnings and they like the company’s vision, strategy and ambitions for the future. The timing is very good for us."

The company is formulating its plans for an IPO and is planning to raise approximately $16m.

Read the full Stockhead article here.

Read the full article on the opportunity to invest in Norcliffe Mining Services here.

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