Take Private of Accuma Group plc
29th January 2010
Zeus Capital is pleased to announce that they recently advised on the take private of Accuma Group plc.
Zeus Capital acted as financial adviser to HH Bidco Limited on the £5 million acquisition. HH Bidco is a new company formed for the purposes of the management buy-out.
Accuma floated on the AIM Market of the London Stock Exchange in March 2005 and expanded rapidly following the growth in the personal insolvency sector during 2006 and 2007. Since then, the company has divested its IVA and loan broking businesses and now focuses on the arrangement of informal debt management plans for private individuals through its subsidiary, Byrom & Keeley Financial Services Limited.
They envisage the current economic environment presenting a number of opportunities to the newly formed group and look forward to the future as a private business. Byrom & Keeley will continue its existing debt management activities, and in the longer term, seek to expand into the IVA and loan broking sectors.