Debt firm seeks investors
Sunday September 14 2008 09:53 AM
The Independent, 14th September 2008
Mark Onyett, chief executive of the fast-growing debt management firm TDX Group, is selling a stake in the business that will value it at around £100m.
William Blair & Company, the US investment bank, has been hired to sell a stake that would raise around £25m. An information memorandum is with potential purchasers.
Mr Onyett, who founded the Nottingham-based TDX four years ago and has turned it into a company with £30m turnover, said: "We hope to close the process by the end of November. We want to double the size of the business over the next three years, so this [investment] would be used for growth capital."
The company has global ambitions, and the appointment of William Blair has suggested to some market sources that the US is the next growth area. Mr Onyett confirmed America is "one area of interest".