Gainsborough to front AIM flotation

Gainsborough Communications has been selected to front the AIM float in the next few weeks of defence systems consultancy Cohort.

Gainsborough co-founders Julian Walker and Andy Cornelius are currently advising the company.

Cohort chairman Nick Prest, who was CEO of tank-maker Alvis until BAE Systems acquired the firm in June 2004, wants to raise up to £70m from the listing to spend on the acquisition of other privately owned defence-related companies.

Cohort's activities include advising the Ministry of Defence (MOD) on defence procurement issues. Former MOD chief of defence procurement Sir Robert Walmsley has joined the company as a non-executive director.

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