Hospitality and leisure recruiter Berkeley Scott Group has raised £3m through its flotation on the AIM stock exchange.

The extra funding will be used to fund its organic growth and expansion into other sectors. It has earmarked consumer-focused sectors such as retail, consumer goods, facilities management, travel and tourism where it aims to make “stepping stone acquisitions”.

Berkeley Scott’s chief executive Roddy Watt said: “We are delighted to have received such a positive response to the fundraising from both new and existing shareholders. We look forward to the group’s next stage of development as a public company.”

Shares placed at 71p each gave the company a market capitalisation of £6m on 3 December 2004, its first day of trading on the stock market.