Eddie Stobart Logistics is to float on the junior AIM stockmarket in London and will target a market capitalisation on admission in excess of £550 million.

The firm plans to list in April and is seeking to raise £130 million.

“The board of Stobart Group Limited, the support services and infrastructure group, has been informed by the directors and controlling shareholder of Greenwhitestar UK plc, the holding company of the Eddie Stobart Logistics business in which the (Stobart) group holds a 49% economic interest, that the company intends to seek admission to trading on AIM,” said Stobart Group.

“The (Stobart) group realised 51% of its investment in Eddie Stobart in March 2014 in order to give the business the opportunity to move to the next phase of its development with a new management team and investor base while the group focussed its resources towards delivering on the potential of its energy, aviation, rail and infrastructure divisions.  

“The board is pleased that this strategy is bearing fruit across the group, that Eddie Stobart has performed strongly since the group’s partial realisation and that the group’s interest in Eddie Stobart continues to create considerable value for the group’s shareholders.

“The board has indicated its preference to retain a meaningful stake in the company following its IPO, reflecting the two groups’ on-going shared interests and the company’s prospects.”