Anexo Group is joining the AIM market in a bid to raise £25 million to fund its expansion plans.
The claims management group, which operates specialist credit hire firm Edge and law firm Bond Turner, will be valued at £110 million when it joins the London Stock Exchange’s AIM.
Anexo is raising the funds to grow its share in a consolidating market. The group wants to hire new solicitors and legal assistants, bring more barristers in-house, and set up a new regional office to expand coverage and increase business from across a greater proportion of England and Wales.
Alan Sellers, executive chairman of Anexo Group, said of the fundraising: “I am delighted to announce that Anexo will be joining the AIM market. Over the last 20 years our highly specialist team has worked hard to build Anexo into an integrated credit hire and litigation focused group. Joining the London Stock Exchange and raising £15 million for the company will remove the constraints to enable expansion of our proven model and deliver significant organic growth in the future.”
“There is an ever-increasing UK credit hire and legal claims market opportunity and our focus on impecunious claimants has allowed us to create a business that we believe will scale quickly and generate near-term returns for our new shareholders.”
Anexo earned £44.8 million in revenue in 2017 and £14.6 million in profit before tax.