Adviser support services firm SimplyBiz has appointed a corporate adviser to explore its options for selling a stake in the business.
The firm hired BDO to look into the possibility of issuing an initial public offering (IPO) on the Alternative Investment Market, or selling a stake to a trade buyer or private equity house. It plans to use the funds generated by the sale to continue growing organically and through acquisitions. SimplyBiz was founded in 2002 and recently made a number of bolt-on acquisitions to fuel growth, including the purchase of property surveyors the Home Information Group (HIG) in early January. The firm reported an upswing in profits of 10% in the first year post-Retail Distribution Review (...
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