Dean Webster, Cyril Sweett鈥檚 chief executive, said this week that the company鈥檚 proposed flotation on the alternative investment market (AIM) would put it on a 鈥渓evel playing field鈥� with larger consultants in the fight for acquisitions.
The consultant announced last week that it was planning to float on London鈥檚 junior stock market later this year, if the move was approved by employee shareholders next month. The listing follows the conclusion of a strategic review carried out by the Close Brothers.
Webster, who said the firm will look to acquire in France, Spain, Wales and Asia, added that Cyril Sweett would look to continue its pattern of smaller acquisitions. He said: 鈥淎s an incorporated company, we already have the right structure in place to buy and build.鈥�
It is estimated that Cyril Sweett will have a market capitalisation of 拢50-100m if its float goes ahead later this year.
It will be the only listed standalone QS, however, it is thought that its move is unlikely to lead to a flurry of other listings in the sector as most firms are still partnerships, which means the switch to becoming a public company would involve greater structural change.
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