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Escher Group, a global provider of software solutions for post offices, is reportedly planning a return to the London stock market after being taken private six years ago.
Sky News has reported that Escher, which had longstanding contracts with Fujitsu—the Japanese company involved in the Horizon IT scandal—is currently working with bankers on a potential initial public offering (IPO). Sources in the City have indicated that while a flotation could potentially occur later this year, a listing in 2025 seems more likely. Singer Capital Markets has been appointed to manage the IPO process.
A spokesperson for Escher declined to provide specific details or a timeline for the IPO when contacted by Sky News. It was confirmed, however, that Escher is not currently supplying software to the UK Post Office. Instead, the company’s client base includes the US postal service and various retailers and companies across different sectors. Escher describes itself as the global leader in customer engagement software tailored for post offices and couriers.
In 2018, Escher was taken private by Hanover Investors, a London-based firm, in a deal that valued the company at approximately £35 million. The valuation of Escher for the upcoming IPO has not yet been clarified. Hanover Investors, which also owns luxury motor yacht manufacturer Fairline, has managed the company since the buyout.
The potential return to the public markets marks a significant shift for Escher Group, highlighting its ongoing evolution and strategic realignment. The development is closely watched by market participants, with the timing and valuation of the IPO remaining key areas of interest.
