Transact considers IPO after suitors withdraw

Transact has stated its intention to float following its failure to secure a buyer last year.

The platform was up for sale last summer, appointing Goldman Sachs to find suitable bidders. The business saw a number of approaches from private equity firms, but all of these offers were eventually withdrawn. It was understood the bids were in the region of £150m-£200m, whereas Transact had been hoping to secure a figure nearer £250m. Since then, managing director Ian Taylor (pictured) has said the firm is "more likely" to consider an IPO instead. He said: "All options are open, but a flotation is the most likely outcome. There is no timeframe for when this could take place." ...