SimplyBiz said in a statement that “future options” under consideration are an IPO on the Alternative Investment Market, or the sale of a stake in the business to a trade buyer or private equity fund.
Launched in 2002, SimplyBiz now gives compliance and business support to over 5,000 financial advisers across 2,100 firms, an estimated 30% of the directly authorised UK financial adviser market.
It is 60% owned by founder and chairman Ken Davy, with the remainder held by SimplyBiz management and their families.
“Now is the right time to consider the next stage in the company’s development”, it said.
Simply Biz has made three acquisitions in the last 12 months, comprising property valuation firm Home Information Group; APS Legal & Associates, a wills and probate advisory business; and Staffcare, a benefits and auto enrolment software business.
It further said that there are no plans for the management team to change and Davy will remain as chairman of the business.
