Kurawood, a manufacturer and distributor of products made from Vecowood, an organically-hardened softwood, has raised £4.5 million through joining AIM.

Kurawood, a manufacturer and distributor of products made from Vecowood, an organically-hardened softwood, has raised £4.5 million through joining AIM.

This move has valued the business at £17 million, with the proceeds funding the roll-out of its products, which include flooring, kitchen worktops and staircases.

The IPO was managed by nomad City Financial Associates, with St Helen’s Capital as its broker. The reporting accountant was Rawlinson & Hunter, led by partner Derek Rawlings.

Rawlings commented: “By choosing to use Vecowood, the environmentally-aware end customer will be able to specify the use in their homes of wood products with all the qualities of hardwood without adding to the public concerns surrounding global de-forestation and the traditional use of carbon/oil based products to treat softwood.”