News

24
Jan

SimplyBiz considers acquisitions

The Huddersfield based financial consultant SimplyBiz is considering “selective acquisitions” in 2019, following a successful IPO last year. The firm has increased its net cash to £6.4m, from a debt of £23m, while membership of directly authorised companies under SimplyBiz has grown by nearly 9% year on year.
One of the SimplyBiz CEOs, Matt Timmins, spoke about the firm’s successful year and the potential for external growth:
“The board is pleased to report another excellent year for the group, with great financial performance and a strong year-end balance sheet, supplementing the success of the IPO and acquisition of Landmark Surveyors.
“One of the many positive factors of our business model is our recurring income and forward revenue visibility.
“This provides us with a great deal of confidence, and we enter 2019 full of optimism and in great shape for the year ahead.
“Our capital position and a highly-fragmented marketplace offer us ongoing opportunities to build out our service offering, reinforce the strength of our organic growth platform and pursue selective acquisitions.”