Mon, 05 Nov 2012 | BUSINESS SALE
Insurance company Go Compare could be up for sale in the near future after reports have shown that the founder of the company has brought a group of accountants in to conduct a strategic review.
Hayley Parsons launched the company back in 2006 and is now thought to be weighing up her options ahead of the planned stock-market flotation of car insurance company Esure, which owns a 49 per cent stake in Go Compare.
Accountants from Grant Thornton have been chosen to conduct the review into the business, which is reportedly valued at around £500 million.
Should the sale go ahead, it is likely to attract a significant amount of attention. The successful flotation of Direct Line last month is thought to be reflective of a strong appetite among investment institutions for insurance businesses.
Go Compare had a successful year in 2011, providing a quote every second. Its profits rose by 15 per cent to £34.7 million, while turnover was up by seven per cent to £108.9 million.
At the moment, Ms Parsons holds a 23 per cent stake in the company, while the rest is split between staff and other shareholders. The firm is valued at over £100 million.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.