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 (...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.