Shore Capital is delighted to have acted as Nominated Adviser, Sole Bookrunner and Sole Broker to Power Probe plc (the “Company” or “Power Probe”) on its successful IPO on the AIM Market of the London Stock Exchange. The market capitalisation of Power Probe on admission to trading on AIM was £60 million based on the placing price of 82 pence per share.

Founded in 1992, and headquartered in Charlotte, North Carolina, USA, Power Probe is a leading producer of automotive electrical diagnostic tools for professional service technicians. The Company has grown to become an internationally renowned brand with a suite of products across seven segments: powered circuit probes, testing kits, measuring tools, soldering, lighting, accessories, and private brands.

The Group has seen considerable growth in recent years with revenue of ~$25m in 2022, rising to ~$31.3m in 2024 with the growth continuing into 2025 with H1 results showing revenue of $20.5m, gross profit of $8.6m and EBITDA of $5.3m. Off the back of these results, Power Probe has raised $15m (£11.2m) through a placing of new ordinary shares.

We look forward to supporting Power Probe on its journey as a public company.

Shore Capital CEO, Simon Fine, added:

“We are delighted to have supported Power Probe on its AIM IPO. The transaction is particularly pleasing as it is a US based firm. Much is made of the attractiveness of a New York listing, but this IPO clearly shows that it’s not a case of one size fits all. Many firms in the US, and beyond, see the benefits of a London listing and we’re proud to support those who wish to do so.

We were delighted to work with Power Probe on this transaction, and we look forward to supporting them during their life as a public company in London.”

Power Probe CEO, Chema Garcia, commented:

“We’re delighted to have successfully completed our capital raise and IPO in London, where there is a leading market for small & mid cap companies. This transaction will help us fund the next phase of our expansion while providing liquidity to our existing shareholders over time.

I want to thank the Shore Capital team for their support and hard work throughout the process; the team brought fantastic insight and experience to the process, helping us attract a group of high-quality institutional investors to join us on our journey. It’s clear we have the right adviser to support us moving forward as a London listed company.”

William Marshall & Toby Gibbs, commented:

“We are greatly encouraged by a more active London IPO market, following a period of low activity across global markets. We are seeing a number of high-quality companies exploring an LSE listing to support their growth ambitions and the recent reforms to the UK’s regulatory regime should encourage others to explore this route.”

Shore Capital team:

• Executive: Simon Fine
• Corporate Advisory: Toby Gibbs, Harry Davies-Ball
• Corporate Broking: William Marshall
• Equity Sales: John Ritchie, Adam Lawson, Emma Pearson, George Fraser, Maisie Rose Brown, Jonathan Williams
• Research: Akhil Patel
• Trading: David Simmons, Simon Schaffer
• Investor Relations: Lisa Mason