Consolidator Aims For Launch In 2010

摘要

Plans are being hatched to launch a new accountancy consolidator as a leading deal broker begins the hunt for a firm to anchor the group. And adding fuel to consolidation in the sector, a firm based in the north of England has signalled its own intention of doubling in size by the end of the year to break into the top 25 firms in the UK. Jobtel, which six years ago helped launch Vantis, one of the original consolidators, is looking for a firm with up to ￡15m in annual turnover to form the backbone of a company that would be listed on the Alternative Investment Market to acquire other practices. But it is unlikely the new consolidator will be launched until next year. Julian Hamilton, director of Jobtel, told Accountancy: 'It will be 2010 before I can get a group together and before the market returns to have confidence in the model so that we can go to a flotation relatively easily.' There are currently three accountancy firms listed on AIM - Tenon, the original consolidator, Vantis and Begbies Traynor. A fourth, Numerica, was swallowed up by Vantis in 2005.