Accrol Group IPO and initiation of research

Equity Development initiated coverage on Accrol Group on 10 June, the company’s first day of Dealings on AIM, following their very successful IPO, which raised gross proceeds of £43.3 million at 100p per share. Accrol is a leading independent tissue converter, manufacturing toilet rolls, kitchen rolls, facial tissues and AFH products to supply Retailers throughout the UK. Accrol imports Parent Reels from around the world and converts them into finished goods at the Company’s 350,000 sq. ft. manufacturing, storage and distribution facility in Blackburn, Lancashire. Accrol currently manufactures approximately 17 million units per week and supplies some of the UK’s largest Retailers.