Conchango heads for Aim with ‘aggressive’ growth plan

Digital media specialist Conchango is to be listed on the Alternative Investment Market later this month, following its reverse takeover of the cash shell investment company Harrier Group.

The deal leaves Conchango joint managing directors Richard Thwaite and Mike Altendorf with just under 70 per cent ownership of the consultancy.

Thwaite explains that following the listing, the consultancy will seek to grow ‘aggressively’ via acquisition and organic expansion.

‘We have already begun identifying opportunities, which should provide long-term return for shareholders,’ says Thwaite. ‘We are currently talking to several people. Over the past few months we have had a number of groups approach us to become part of Conchango. However, the deal sizes we are looking at are up in the £1m-and-above range, and there are some companies out there that simply aren’t big enough for us.’

Thwaite says opportunities in design-led areas have been identified for the group to expand into, and also that skillsets in and around marketing and search engine optimisation for the Web might be interesting areas for acquisition.

‘There is a certain amount of cautiousness being talked about in the market at the moment, but we are not seeing it yet, and we are talking to lots of large organisations that see the Web as their ideal route to market,’ he adds.

‘We achieved record profits in 2006 and while we could continue on our current trajectory and grow at a significant pace, we are incredibly ambitious and wish to become an even larger organisation able to offer more services to a wider customer base,’ he says.

Conchango will continue to help organisations in the retail, financial services and entertainment sectors, adds Thwaite.

The consultancy’s flotation is due to take place on 15 January.

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