Kalibrate to use public markets to grow petroleum software offering

Manchester-based Kalibrate Technologies has outlined plans to join London's Alternative Investment Market.

An expansion of sales and investment in product development is on the table for Kalibrate Technologies after revealing it plans to float.

The pricing and retail tool software company, which was formerly known as KSS Fuels, operates in the petroleum retailers market and has bases in a number of locations around the world.

Financial terms of how much the business plans to raise on London’s Alternative Investment Market (AIM) has not been revealed, but the IPO is expected to take place in December.

According to a statement, some 200 petroleum retailers use the company’s software and analytical tools to find new markets and plan retail networks.

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Bob Stein, CEO of Kalibrate, comments, ‘The petroleum retail industry is dynamic and changing. New and deregulated markets are opening up to investment and new strategies for targeting those markets must be set.

‘Our business is well positioned to take advantage of these dynamic market trends. We have the opportunity to both extend our global reach and become even more deeply embedded with the clients we already serve.’

For the financial year 2013, Kalibrate recorded revenues of £15.47 million and a profit before tax of £880,000.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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