Berkshire-based Ascot Lloyd will proceed with flotation plans, according to an update posted in the stock exchange last week, and is looking to launch its IPO before the end of this week.
Ascot Lloyd’s motivation to float is linked in part with its continued commitment to growth through acquisition – Ascot Lloyd worked with Gunner & Co. earlier this year to acquire Bournemouth-based Harvard Financial Management, boosting their AUM by £90M. They’re also on the lookout for hub offices in Bristol and Manchester.
Ascot Lloyd have 8 offices across the UK and a workforce in excess of 200, with a head office in Wokingham.
Going into the IPO the business has two principal shareholders, who actively run the business – Pat O’Hara with a 50% stake and Richard Dunbabin (pictured) with a 39.8% stake.
A spokesman for Ascot Lloyd said: ‘Ascot Lloyd is currently in the process of meeting potential investors, with a view to raising funds for future expansion through a flotation on AIM.
‘Further details will be released in due course.’
If you’d like to understand more about Ascot Lloyd’s acquisition strategy contact louise.jeffreys@gunnerandco.com
