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Burns Anderson set to buy networks

Burns Anderson is in acquisition talks with networks and IT offerings after making a profit in 2003 and taking itself off the market in December.

BA has long been viewed as a potential target for acquisition, with Tenet launching a bid last year which fell through in the final stages. Group 300 and Berkeley Berry Birch were also rumoured to be in the running.

However, business development director John Hayden says BA made profits of around £250,000 last year and is now in discussions with other networks with a view to acquiring them.

BA is also keen to develop its IT proposition and is looking at a number of potential acquisitions. Hay-den says he wants to compete with technology-based networks such as Group 300, Simply Biz and Positive Solutions.

Part of BA&#39s development includes new mortgage network BA Mortgage Services and a protection network, BA Protect.

The pricing structure for the mortgage network is not yet finalised but should be between 5-9 per cent of members&#39 turnover.

Hayden says: “Until December last year we were operating as a business with a for sale sign outside our window. Our previous management were focused solely on selling the business, not on running it.

“We have now turned the business around from a non-profitable organisation that was failing FSA capital-adequacy requirements to a very sound financial network. We are now an aggressor rather than a target.”

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