IONS advisory outfit River and Mercantile yesterday unveiled plans to raise £12m on the London stock market to build a warchest for future acquisitions.
The business, which was formed from a merger between consultancy P-Solve and fund manager River and Mercantile Asset Management, said it planned tap to into the “pensions revolution” and the growing demand to cater for the UK’s shifting demographics. The company offers services such as consulting and advice, as well as fiduciary and fund management. It had revenues of £51.8m last year.
Chief executive Mike Faulkner said: “The idea for the float is to make some selective acquisitions and partly finance some new products. It also raises our profile to engage with companies but keeps our independence.”