‘Firms that join our group will work under their own brand as a member of the Numerica Group,’ he said. After six months they will switch to the Numerica brand.
Bristol-based firm NMGW and London firm Jayson Newman, acquired in July and August this year, will also take the Numerica brand next year.
It is expected the group will raise up to Pounds 25m from a flotation once market conditions are more favourable. ‘An IPO is just one of a number of avenues we are considering,’ Sarin said.
The three firms on board the Numerica model have been confirmed as the core of the group, but it is understood that Numerica is in talks with other firms.The targeted firms are understood to be in the Pounds 2m – Pound 5m fee income range. An announcement on the branding of the firm’s audit business is also expected soon.
Meanwhile, further mystery consolidators could be unveiled before the end of the year. Unconfirmed sources have suggested Baker Tilly may be looking at continuing to grow its business through public shareholders, following phenomenal growth over the last two or three years.
National managing partner Laurence Longe said he hadn’t ruled out or in the possibility of growing the firm by means other than the traditional partnership model.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel