Group 300 has opened the door to a sale or mer-ger as it looks for around £3m-£5m in external funding.
Chief executive Chris Batten says the company is keen to develop to the next level and that there are two ways to do this – either with a simple equ-ity investment or through a merger with “an exceptional business”.
Batten says Group 300 has been approached by Grant Thornton acting on behalf of a financial services institution interested in buying the company and he says he has made tentative noises to another couple of org-anisations.
The entire business of Group 300 was recently valued at £31m and Batten is looking for 10-15 per cent of this figure in funding – £3.1m-£4.65m.
He says: “We have dec-ided to make it known that we are looking for investment. We recently launched a new blueprint for our business and are now keen to turn the corner into being exceptional.
“This is to do with pro-fit, not size, and with the roll-out of our technology through the industry.”