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Towry Law Considers IPO

Financial services business Towry Law is reported to be planning to float later this year says The Independent. Towry Law is part-owned by European private equity firm Palamon Capital Partners. The company's CEO Andrew Fisher is believed to want to bring his company to the public markets.

Palamon has grown Towry Law through a buy-and-build strategy. It bought John Scott & Partners in 2003 as the platform acquisition and added on several other IFA businesses including Towry Law in May 2006. The enlarged business now trades under the Towry Law name.

The company has grown profits from Gbp6.2m in 2006, to Gbp9m in 2007 and a forecast Gbp20m for 2008.

Source: Thomson Merger News