U.K.-based energy services provider Energys Group sets terms for a $10 million U.S. initial public offering

Energys Group, a UK-based provider of energy-saving products and services, announced the terms of its initial public offering on Tuesday.

The Billingshurst, UK-based company plans to raise $10 million by offering 2 million shares at $5. At the proposed price, Energys Group would achieve a market value of $70 million.

Energys is a UK-based energy services company primarily providing bespoke end-to-end solutions and services that include retrofitting existing infrastructure. The company provides LED lighting systems and turnkey project delivery, including installation and commissioning of fixtures, controls and IoT systems, as well as ongoing system maintenance and program management, primarily in the UK. Energys also has offices in Hong Kong, where it conducts research and development and sources lighting and other products, which are then sold to its UK-based operating subsidiary.

Energys Group was founded in 1998 and had revenues of $8 million for the twelve months ended June 30, 2023. It plans to list on the Nasdaq under the symbol ENGS. Joseph Stone Capital is the sole bookrunner on the deal.