4 Global – a partner in the Moving Communities initiative – has completed an initial public offering (IPO) on the London Stock Exchange's Alternative Investment Market, valuing the business at £24m.

The Moving Communities monitoring and evaluation tool was launched by Sport England in early 2021, to enable decision-makers to understand the impact of the government’s £100m National Leisure Recovery Fund in helping public sector sports, fitness and recreation facilities through the COVID-19 crisis.

Moving Communities is also creating an evidence base for local and national decision-making.

Other contributors to the project include Leisure-net Solutions, the Sport Industry Research Group at Sheffield Hallam University, Max Associates and Quest.

In addition to working on sector research projects, such as Moving Communities, 4 Global specialises in physical activity measurement services and provides digital solutions and insight projects in the UK and overseas.

The company uses its proprietary data and software solutions to convert data into actionable insight, which in turns enables clients – which include the likes of Sport England – to promote sports participation, reduce physical inactivity and achieve positive outcomes.

On listing day, the company had a market capitalisation of around £24m, following a successful placing and subscription to raise £4m at an issue price of 91 pence per share.

According to Eloy Mazon, CEO, the company will use the investment to accelerate growth, which includes acquiring complementary businesses and product lines, as well as further development of its technology platform.

"This is an important step in our growth journey as we scale the business and continue to aid our clients in the promotion of sports participation," Mazon said.

"We believe that the combined expertise of our board will enable us to maximise opportunities and admission to the AIM market will provide us with the credibility and access to capital to support our growth.

“We're at a pivotal and exciting point in the company’s development, and we very much look forward to welcoming new investors as shareholders in this compelling business and working with all our stakeholders to achieve our goals."