Applied Nutrition is a leading sports nutrition, health, and wellness brand which formulates and creates nutrition products. The Company was founded in 2014 by CEO Thomas Ryder and now sells products in over 85 countries worldwide, with a product range targeting elite athletes, gym goers and health-conscious consumers. In preparation for a prospective IPO, Alma was appointed to support the business through a high-profile period of media and stakeholder engagement.

Our aim was to build momentum and deliver a credible, compelling narrative around the float, balancing the expectations of institutional investors, analysts, and press with the brand’s existing consumer audience. We worked closely with the management team to shape messaging that highlighted the scale and quality of the business.

Activity included the development and execution of a leak strategy, preparation of supporting investor materials and key messages, and a series of targeted media briefings. Alma also coordinated the production of a corporate video to reinforce the Company’s long-term growth ambitions and industry leadership.

Our work generated more than 40 pieces of high-profile, positive media coverage, including national and business press such as The Times, The Telegraph, The Independent, and Sky News. The campaign helped maintain momentum ahead of the anticipated IPO, positioning Applied Nutrition as one of the most exciting consumer growth stories in the UK market.

Alma has since been retained as Applied Nutrition’s ongoing financial communications adviser, supporting the company as it transitions into life as a listed business and engages with a broader set of stakeholders.

Established in 1985, Concurrent Technologies PLC is a designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world's major OEMs.

Designed for both commercial and rugged environments, Concurrent’s products are used in a wide range of high-performance, long-life cycle applications within the defence, telecommunications, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments Concurrent listed on AIM in July 1996 and, despite a loyal customer base and sophisticated technology, the company remained largely under the radar for many years.

Market perception was constrained, with limited disclosure due to defence exposure and investor communications overly focused on technical detail rather than commercial opportunity. A change in management in 2021, brought a clear step-change in ambition, although the company’s public narrative and investor materials had yet to catch up with this refreshed vision, leaving its growth story under communicated.

Alma was appointed in December 2023 to lead a comprehensive IR transformation, repositioning Concurrent’s in the market and ensuring its long-term growth story was clearly articulated. The strategy focused on a complete refresh of the IR messaging and collateral, from RNS statements and presentations to website materials, ensuring the compelling narrative for all stakeholders across all touchpoints. The company’s investment case was reframed around the commercial value of long-term design wins, moving away from product detail towards a more compelling market driven growth narrative.

Alma also focused on broadening the company’s visibility beyond its traditional base, securing high-profile national and trade media coverage, including with Midas, The Times, and Investors Chronicle, to amplify the story to a wider investor audience. Engagement with key banks and investor press was also expanded to refresh and reposition Concurrent’s messaging.

The outcomes were immediate. Concurrent developed a solid following among both institutional and retail investors, backed by consistent, positive media coverage in national business and investor publications. An ongoing media engagement programme was established to further deepen market understanding of Concurrent’s offering. The refreshed messaging and branding were updated across all investor-facing materials, ensuring that every touchpoint reflected the company’s growth ambitions.

Miles Adcock, CEO of Concurrent Technologies said:

Alma is proactive and engaged, our relationship has been extremely positive so far. The team gets a lot done and it feels like a genuine partnership. They are a trusted advisor which is hugely enabled by how well they understand our business. Responsiveness is outstanding — the team works on things instantaneously, often out of hours, which I don’t expect but is genuinely helpful. Things could not be even slightly better.

Craneware is a leading provider of value cycle software solutions to the US healthcare industry. Headquartered in Edinburgh, the Company listed on AIM in September 2007, raising £20.5 million at a price of 128p, giving the company a valuation of £32 million. Since that time the Company has gone on to firmly establish itself as a constituent of the FTSE AIM 100.

Appointed ahead of the IPO, in the summer of 2007, our advisors have worked with Craneware since that time, providing advice on interaction with the capital markets and managing all aspects of the company’s analyst and financial media relations activity.

This has included managing the communications around two acquisitions; ClaimTrust, Inc. in 2011 and Kestros Limited in 2014 and the launch of a comprehensive strategy in 2015 that dramatically increases the company’s total addressable market.

Most recently, Alma supported Craneware with a $193.5 million placing and the Company’s largest acquisition to date of US-based Sentry for $400 million, providing immediate additional scale and cementing Craneware’s position in its end market.

Keith Neilson, co-founder and CEO of Craneware plc had the following to say regarding the service received from Alma partners during this time:

The advice and support that we have received from Alma has been fantastic over the many years we have worked together. It is clear they have taken the time to really understand our business and have become very much an integral part of our team.

They have great connections across the investor community, press, analysts and our other advisers and have provided sound counsel regarding our interactions with these audiences, always with an eye towards our long-term strategy and positioning. Importantly, I have found them to be great people to work with and we would not hesitate to recommend them to others.

Entertainment One, best-known for the pre-school favourite Peppa Pig, has been a client since 2010. Over the last decade, the Company has grown from a capitalisation of £100m, culminating in its sale to Hasbro for £3.3bn.

Working across eOne’s UK and US Capital Markets needs, media relations and analyst interaction, our advisors have supported eOne through its move from AIM to the FTSE 250, and multiple acquisitions including Alliance Films, Audio Networks and the remaining stake in Peppa Pig. Throughout this time, the team worked closely with eOne’s global teams and partners to ensure the Group’s communications were aligned.

Jackie Rubin, Senior Vice President, Corporate Communications at Entertainment One said:

As long time members of the Alma family and before that, clients of Bex and her team, we continue to be impressed by the standout attention and service of Bex and the entire team. Beyond that, their insights and on-point guidance have supported the evolution of our strategy and the growth of our business in the most meaningful of ways over many years.

Alma’s bespoke approach, combined with their local and global market awareness, makes them a great partner across so many areas of our business. More than that, they go above and beyond, day or night, to deliver at the highest levels.

To say that they are part of our core brain trust would be an understatement. If you want to work with the best out there, look no further than Alma.

H&T, which traces its roots back to 1897, is the UK’s largest pawnbroker and a leading retailer of high-quality new and pre-owned jewellery and pre-owned watches.

Appointed in 2022, Alma refreshed its messaging and investment case with the goal of raising the Company’s profile in the investor community, particularly with retail investors. As a result of this strategic refresh and Alma’s outreach, H&T consistently secured supportive coverage in key national business pages and investment media. The Company received frequent “buy” recommendations and positive commentary across the majority of key investment press outlets and influencers.

Alongside this, the team collaborated with H&T to communicate its ongoing investment in technology and its M&A activity.

As part of the brief, the team also worked to improve perceptions of the wider UK pawnbroking industry and successfully reinforced H&T’s leadership in the sector.

Alma supported the Company through several pivotal moments in its growth journey, providing strategic advice on communications for, amongst other things, acquisitions, capital raises, and most recently, its successful sale to FirstCash, which valued the business at £297 million, representing a 44% premium on the share price.

Since the team started working with Design Group the Company has more than doubled revenues, with its share price more than tripling. In January 2020 the Company completed a significantly oversubscribed placing to raise £120m.

Diane Giddy, Chief Financial Officer, H&T Group plc said:

It’s a great partnership. I don’t think we could have achieved what we have without the Alma team. They’re always available, deeply invested, and help us tell our story to the market in a way that really lands.”

Raspberry Pi Holdings plc, a global leader in low-cost, high-performance computing, made a landmark debut on the Main Market London Stock Exchange in June 2024, raising £166m and in so doing providing substantial funding for its lead shareholder, the Raspberry Pi Foundation, in support of its mission to widen access to computing.

The IPO was viewed as a huge success, a strategic win for the London market, and a standout technology sector listing.

Appointed three years ahead of the IPO, Alma worked closely alongside Raspberry Pi’s leadership and communications team to ensure the evolving corporate structure and growth strategy was understood and supported by all stakeholders, including a passionate international user community. Ahead of the IPO itself, Alma collaborated with the lead banks, Jefferies International and Peel Hunt, to devise and implement a robust and responsive communications strategy, covering media and investor relations, regulatory filings, and digital engagement.

The IPO was significantly oversubscribed and received widespread positive coverage across key media outlets, including The Financial Times, The Times, The Daily Telegraph, Reuters and Bloomberg, as well as Tech Radar, Tom’s Hardware, and CNET.

Since IPO, the Company has entered the FTSE 250 and Alma continues to support across investor, media and analyst engagement.