Nabarro Wells will be broker and nominated adviser to Greenkote, which boasts a patented coating process, Summet’s Thermo-Chemical Surface Modification, which is claimed to give metals, alloys and powders increased resistance to low and high temperature corrosion. The process, also said to improve wear resistance and bonding to rubber and plastic, finds a use chiefly in the motor, construction, aerospace and medical industries and Greenkote’s customers include Motorola, General Motors, VW supplier MAG and the Israeli Defence Force.

Chief executive Arie Laor argues ‘our process provides improved anti-corrosion properties at reduced costs… and offers up to 70 per cent cost reductions in the hard coatings market’. Greenkote has a link with TCB, a British tension control bolt supplier, and their joint product has won accreditation with several UK heavy construction projects, including the Oval cricket ground and Heathrow Terminal Five.

If successful, the float will put a value of £6.2 million on the company, which wants the £2 million sought to help fund the addition of a plant in Germany to its existing Israeli facility and another in Romania. Some of the money will go to repay a £250,000 bridging loan.

For further information visit: www.greenkote.com