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RC Fornax
IPO on AIM
£18m
Background
Strand Hanson advises RC Fornax on its IPO on AIM
Strand Hanson is delighted to have acted as Nominated and Financial Adviser to RC Fornax on its admission to AIM. Founded in 2020 by RAF veterans Paul Reeves and Dan Clarke, RC Fornax is a highly accredited engineering consultancy, formed to define and execute engineering design projects. The Company delivers projects under Statements of Work, enhancing and augmenting customer capabilities while improving project efficiency.
RC Fornax works with its clients to define their specific needs and takes full responsibility for delivering the project, so that the focus is always on engineering outcomes. Since inception, RC Fornax has engaged directly as preferred supplier with 10 well-recognised blue chip defence businesses.
Alongside admission to AIM the Company has raised over £5 million to support its growth and specifically the delivery of an AI-powered tool to automatically define Statements of Works and deliver a more streamlined project process. The fundraising was supported by a number of blue-chip institutional investors.
The Strand Hanson team was led by Christopher Raggett with the support of Rob Patrick and Harry Marshall.
Paul Reeves, CEO of RC Fornax:
“I am tremendously proud to bring RC Fornax to the AIM Market. This will provide us with an excellent platform from which to grow our business in support of the UK’s defence industry. We are extremely grateful to the entire team at Strand Hanson who have given us outstanding advice throughout this process. We are very pleased that we chose to work with them on such an important project. We look forward to their partnership in the years to come.”
Christopher Raggett, Corporate Finance Director at Strand Hanson:
“We are delighted to have helped RC Fornax admit to AIM. Growing, founder-led businesses with a vision to enhance the UK are the bedrock of this market and RC Fornax encapsulates those qualities perfectly. It has been a pleasure to work with Paul, Dan and the rest of the team and we look forward to helping them achieve even more success in the future”.