{"id":12227,"date":"2023-01-26T18:09:46","date_gmt":"2023-01-26T15:09:46","guid":{"rendered":"https:\/\/www.robomarkets.com\/blog\/?p=12227"},"modified":"2023-08-11T14:59:39","modified_gmt":"2023-08-11T11:59:39","slug":"elate-group-ipo-transport-company-from-new-york","status":"publish","type":"post","link":"https:\/\/www.robomarkets.com.cy\/blog\/stock-market\/ipo\/elate-group-ipo-transport-company-from-new-york\/","title":{"rendered":"Elate Group IPO: Transport Company From New York"},"content":{"rendered":"\n

Today, we will analyse Elate Group, Inc., which operates as a moving and storage services, and transport company. It is entering NASDAQ on 27 January under the ticker ELGP. Let's get acquainted with the company’s business, the prospects of its target market, its main competitors, its financial performance; and its strengths and weaknesses. We will also look at all the details of its IPO<\/a>.<\/p>\n\n\n\n

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<\/span>Brief information on Elate Group<\/span><\/h2>\n\n\n\n
\"Elate<\/figure>\n\n\n\n

Elate Group, Inc. is an American transport company providing a wide range of moving and storage services including residential packing and moving, as well as transportation and delivery services both within and outside the US. The company was founded in 2013 in New York, and its head office remains there.<\/p>\n\n\n\n

Elate Group, Inc. is managed by one of its founders, Kevin Britt. Prior to founding the company, Britt worked as a licensed investment advisor at Fordham Financial Management, Inc.<\/p>\n\n\n\n

\"Example<\/a>
Example of commercial relocation by Elate Group<\/em><\/em><\/figcaption><\/figure>\n\n\n\n

Relocation services include dismounting, mounting, packing, and unpacking of any cargo. The company manufactures a variety of special packaging for expensive, fragile, or large items; and provides long-term and short-term<\/a> storage of cargo. Moreover, clients can order professional cleaning services for their place of relocation. Finally, Elate Group services VIP clients with a more individual approach, including the provision of domestic concierge services.<\/p>\n\n\n\n

\"Elate<\/a>
Elate Group's client base<\/em><\/em><\/figcaption><\/figure>\n\n\n\n

Elate Group’s client base comprises numerous private corporations and state organisations, among which the following are worth noting: Trump International Hotels Management, U.S. Social Security Administration, Sotheby’s International Realty, U.S. Drug Enforcement Administration (DEA), Four Seasons Hotel New York (Downtown Manhattan), United States Military Academy (West Point), New York State Insurance Fund, Keller Williams Real Estate, New York Department of Motor Vehicles, New York State Office of General Services.<\/p>\n\n\n\n

\"Competitiveness<\/a>
Competitiveness of Elate Group<\/em><\/em><\/figcaption><\/figure>\n\n\n\n

On 30 September 2022, the sum of investments gathered by Elate Group amounted to 0.73 million USD.<\/p>\n\n\n\n

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<\/span>Prospects of Elate Group’s target market<\/span><\/h2>\n\n\n\n

According to Berkshire Select’s Anything Research, the transportation market in the US will have reached 22.5 billion USD by 2026. Thus, the average yearly growth of the market in 2022-2026 will be 5%.<\/p>\n\n\n\n

The largest part of the market, which is 61%, belongs to private transportation, while commercial orders account for 16%, and transportation of special cargo accounts for the remaining part.<\/p>\n\n\n\n

\"Elate<\/a>
Elate Group's target market<\/em><\/em>*<\/figcaption><\/figure>\n\n\n\n

According to IBISWorld, the market for temporary storage will have reached 44.5 billion USD by 2024. The average yearly growth in 2022-2024 will amount to 2.2%.<\/p>\n\n\n\n

\"Elate<\/a>
Elate Group's target market<\/em><\/em>*<\/figcaption><\/figure>\n\n\n\n

The main competitors of the issuer are:<\/p>\n\n\n\n