PracticeConsultingNumerica to float next week

Numerica to float next week

Accountancy consolidator Numerica is set to float on AIM next Thursday in a bid to raise in excess of £25m.

AccountancyAge.com has learned that 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.

Chief executive officer Tony Sarin could not comment on the move. He said: ‘We are exploring a number of opportunities for fund raising going forward. We are looking at a figure in the region of Pounds 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 revealed to Accountancy Age that Levy Gee will adopt the group name next year.

Bristol-based firm NMGW and London firm Jayson Newman, acquired in July and August this year, will also take the Numerica brand next year.

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