PracticeAccounting FirmsNumerica set to float in bid to raise #25m.

Numerica set to float in bid to raise #25m.

Levy Gee-driven venture in move to raise #25m in AIM listing as part of attempt to add to acquisitions portfolio

Accountancy consolidator Numerica is to float on the Alternative Investment Market next Thursday in a bid to raise in excess of #25m.

Accountancy Age has learned the consolidator, which has top 20 firm Levy Gee as its largest constituent so far, has targeted Thursday to announce what price its shares will be placed at, and how many it will sell in order to raise the target figure.

CEO Tony Sarin would not comment on the move. He said: ‘We are exploring a number of opportunities. We are looking at a figure in the region of #25m.’

Big Five firm Ernst & Young is working with the consolidator on the float, and barring a last-minute hitch the deal looks certain to go ahead. The aim of the float is to raise funds to acquire further firms and business services to add to its portfolio.

Sarin recently stated he was involved in talks with nine firms and is looking to create a presence nationally, with Scotland and the North-East the most likely areas for its next acquisitions.

Earlier this month, Sarin told Accountancy Age Levy Gee will adopt the group name next year.

NMGW and Jayson Newman will also adopt the Numerica brand next year.

– Tenon enters top 10, page 3.

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