Debtmatters for AIM
Article Date: Jun 07 2005Profitable debt solutions business Debtmatters is poised to float on AIM in late June, with a hoped-for market value of £15 million.
Prior to first day’s dealings the company is looking to raise £3 million of new money – through a placing steered by Charles Stanley. The cash will be used to beef up marketing and advertising spend and invest in new staff and technology.
The company, which has its origins in a firm founded by CEO and ex-Arthur Andersen accountant Ges Ratcliffe, is thriving in the burgeoning market for Individual Voluntary Arrangements (IVAs), driven by the UK’s £1 trillion plus of consumer debt. According to recent figures from the DTI, the IVA market has been growing at around 40 per cent a year. Debtmatters has seven per cent market share, and turned over more than £2.5 million in the last year to March.
