Power Probe PLC’s shares climbed 3% to 84.5p during their first morning on AIM after the automotive diagnostics firm raised £11.2 million through a placing of new shares.
The offer was priced at 82p, giving the company a market value of about £60 million.
Founded in California in 1992 and now based in Charlotte, North Carolina, the company plans to use the funds to establish a new US manufacturing site, expand into additional markets, and further strengthen its R&D efforts.
CEO Chema Garcia described the IPO as an important milestone for the business and expressed appreciation for investor backing. He added that joining AIM opens a new phase for the company and supports its growth ambitions.
Power Probe supplies a range of diagnostic tools for automotive technicians—including circuit testers, fault-tracing devices, multimeters, and temperature probes—sold under brands such as Snap-on and MAC Tools and used across numerous vehicle types.
The business has delivered steady growth, with revenue rising from $25 million in 2022 to $31.3 million in 2024, while EBITDA increased from $4.8 million to $8.3 million. Momentum continued into 2025, with first-half revenue reaching $20.5 million, supported by strong uptake of new products.
Beginning in 2026, the company intends to adopt a progressive dividend policy targeting a payout of roughly 50% of post-tax earnings.
The Company’s admission document is available for viewing at https://investors.powerprobe.com.
About Power Probe
Power Probe is a leading producer of automotive electrical diagnostic tools for professional service technicians.
The Group was founded in 1992 in California, USA, and has grown to become an internationally renowned brand, designing and distributing over 120 products. It is driven by a relentless focus on product quality, continuous innovation and customer care, as captured in its mission statement: “Simplifying Automotive Diagnostics”.
The Group’s products are organised into seven segments: powered circuit probes, testing kits, measuring tools, soldering, lighting, accessories, and private brands.
CONTACT DETAILS
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Power Probe Chema Garcia, Chief Executive Officer Fabio Medina, Chief Financial Officer Tom Marsh, Group Corporate Development |
https://investors.powerprobe.com c/o Sodali & Co |
