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August 03, 2015 5:25 PM ET

Professional Services

Company Overview of SimplyBiz Ltd

Company Overview

SimplyBiz Ltd. provides compliance/regulatory guidance and business support services to directly authorized advisers in the United Kingdom. It offers regulation, vision, business efficiency, personal development, and encouraging growth services. The company was founded in 2002 and is based in Huddersfield, United Kingdom.

The John Smith's Stadium

Stadium Way

Huddersfield,  HD1 6PG

United Kingdom

Founded in 2002

Phone:

44 14 8443 9100

Fax:

44 14 8443 9101

Key Executives for SimplyBiz Ltd

Group Managing Director
Founder, Chairman and Chairman of The New Model Business Academy
Joint Managing Director, Operations Director and Director
Chief Executive of New Model Business Academy
Director of Member Services
Compensation as of Fiscal Year 2015.

SimplyBiz Ltd Key Developments

Simplybiz's Group Sales Director Steve Braidford Steps Down

SimplyBiz group sales director Steve Braidford has left the support service provider in order to concentrate on Sandringham Financial. Sandringham, which was launched in 2013 by SimplyBiz founder Ken Davy and backed by the support firm's other directors, has been overseen by Braidford since its inception. Braidford had until now maintained his two roles serving as both SimplzBiz's group sales director and Sandringham managing director. Previously, Braidford had led SimplyBiz's New Model Business Academy, but was replaced in the role by Lee Travis when he became managing director at Sandringham.

SimplyBiz Plugs Sale Plans; Looks For Other Options To Raise Funds

SimplyBiz PLC dropped plans to raise money for acquisitions through a stake sale or initial public offering (IPO). SimplyBiz's management team has decided to retain its equity and shareholding so will not look for an equity sale or float in the immediate future. Neil Stevens, Managing Director of SimplyBiz, said the firm had decided to retain independence rather than sell a stake in the business. Stevens said, "'We believe that given the extraordinary amount of change and opportunity currently available in the financial services sector that we are better able to serve our customers and clients as a totally independent business. Specifically as regards to an IPO, whilst we have not ruled it out completely at some time in the future we certainly would not anticipate such an event for at least a couple of years and probably longer. In pursuing our aspirations to grow the business we are exploring funding options that keep the management team and the shareholder base consistent."

SimplyBiz Plans To Raise Finance; Eyes Acquisitions

SimplyBiz PLC is planning to raise funds through the sale or flotation of a stake in the business. SimplyBiz, which claims to have a value of around £100 million, plans to use the money raised to fund further acquisitions. Matt Timmins, Joint Managing Director of SimplyBiz told New Model Adviser, "We are looking to generate income so we can use it to grow the business. The main ways to do that are through an initial public offering on AIM, or the sale of a stake in the business to a trade buyer or private equity fund." Timmins SimplyBiz had already identified three possible acquisition targets on which to spend the funds. SimplyBiz is working with corporate financial advisers BDO on the possible stake sale or float.

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