Conchango to float for growth

UK services firm to seek acquisitions after AIM debut next week

UK IT services consultancy Conchango is to float on the AIM market next week. The company will make its debut on 15 January in a bid to bolster its size and better compete for larger deals.

Perhaps best known for its digital media project work with clients such as HMV, Sky and Virgin Atlantic, Conchango said access to capital would allow it to keep growing.

Conchango joint managing director Richard Thwaite said, “From 2005 to 2006 we grew the business by 50 per cent and to carry on with a decent trajectory we have to have a mix of organic growth and acquisitions. Companies that are on the public markets get more press than companies not on the markets but one thing that puts you in the frame for bigger-ticket deals is being bigger yourself.”

Conchango will focus on acquisitions of companies with £5-10m in turnover, with creative and offshore firms of particular interest.