Pro-Bel Plans IPO

U.K.-based routing and signal processing vendor Pro-Bel says it has hired advisors with the aim of launching an initial public offering of stock in the fourth quarter of 2006.

CEO Graham Pittman says the company has demonstrated high levels of organic growth, driven by last year’s acquisition of Vistek, has one of the best operating profits in the broadcast market; and anticipates annual revenues growing to roughly $60 million.

“We have always been an innovative company, and our customers are excited about our vision of the future,” says Pittman. “We believe an IPO is the most effective means of enabling us to pursue that vision."