Reuters has reported that the SimplyBiz Group is considering floating on the London Stock Exchange – if the float goes ahead, the support service provider looks set to be valued at more than £150m.
The Huddersfield-based firm offers its services to approximately 3,500 firms and in 2016 disclosed operating profits of £4m.
The possibility of floating is a result of SimplyBiz’s recruitment of Zeus Capital to advise on ways to further finance its growth.
A representative of SimplyBiz commented:
“The SimplyBiz Group is a successful private business and has a clear and ambitious growth strategy, with an experienced management team in place to deliver it.
“As part of that growth strategy, it regularly reviews its strategic options in terms of financing and has recently appointed Zeus Capital as an adviser to the business.”
SimplyBiz isn’t alone with plans to float in the pipeline: Sandringham Financial Partners and IntegraFin Holdings have both indicated that they intend to float on the London Stock Exchange in the near future.
