Air transport and haulage firm Air Charter Service (ACS) is looking to raise £8 million with an IPO on AIM.

Air transport and haulage firm Air Charter Service (ACS) is looking to raise £8 million with an IPO on AIM.

If successful, the listing will be the second listing on the junior market for an air charter company and will value ACS between £30 million and £32 million.

The company is 82 per cent owned by founder and chairman Chris Leach and his wife Christine Leach, also a board member. The IPO aims to float about 25 per cent of ACS.

Established in 1990, the firm had a turnover of £65.5 million in the 12 months up to this January, up from £36 million two years earlier. In the same period pre-tax profits rose from £810,000 to £2.4 million.