PUB equipment group Brulines is to raise £4.7m through a share placing to fund future acquisitions.

The Stockton company, which completed its fourth acquisition in two years last week, is now looking to expand further by taking advantage of opportunities.

Brulines is planning to place nearly four million shares on the Alternative Investment Market (AIM) on December 30 to raise £4.7m to help with its expansion plans.

Earlier this month, Brulines chief executive James Dickson spoke of the company’s desire to make more acquisitions in the coming year, saying the credit crunch had benefited the business.

The company, which employs more than 200 staff and recently announced profits for the half-year to September 26 had risen 7.5 per cent to £2.21m, provides drinks machine and profit protection systems for more than 22,500 pubs across the UK.

Last week, it announced it had bought Scottish-based Vianet, a data capture solutions provider to the vending industry, from administration.

It came only three months after the acquisition of Sunderland company Edensure, which makes petrol forecourt equipment.

Last year, Brulines took a controlling stake in Coin Metrics, and acquired rival Nucleus Data in January. The conditional placing and the Vianet acquisition were advised by West Yorkshire law firm, Gordons LLP.