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SimplyBiz mulls flotation or sale of business stake

SimplyBiz is considering floating the business on the Alternative Investment Market or selling a stake in the firm.

The compliance and support services firm says it is working with corporate finance adviser BDO to consider its future options.

It says these may include an IPO or the sale of a stake in the business to a trade buyer or private equity fund.

SimplyBiz says: “The board believe that now is the right time to consider the next stage in the company’s development. There are no plans for the management team to change and Ken Davy will remain as chairman of the business.”

The firm posted a £3.4m pre-tax profit for 2013, up 16 per cent on the previous year.

In the past 12 months it has bought property valuation firm Home Information Group, wills and probate advice firm APS Legal & Associates, and benefits and auto-enrolment software business Staffcare.

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