PracticeConsultingConsolidator to float this year

Consolidator to float this year

Jobtel, the consolidator, confirmed this week it is planning a flotation sometime before the end of the year.

Brokers have been engaged and the organisation is working towards the move which it hopes will raise investment capital.

As yet there is no firm date and no clear indication of how much cash will be raised, but Jobtel expects the figure to be much less than the £50m raised by Tenon.

Earlier this year, AccountancyAge.com revealed Jobtel announced it had handed leadership of the consolidation programme to a Morgan Brown & Spofforth to speed up the process.

Jobtel aims to acquire firms valued between £2m to £10m to create a nationwide network of firms. But it appears to have stood still while rival Tenon has moved towards a top ten firm status.

Links

City firm is Jobtel backer

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