Towry revives IPO plan after raft of dealmaking

Wealth manager Towry is again considering plans for an initial public offering, according to reports.

In a move that would value the company at £600m-£800m, according to the Sunday Times, the firm is understood to have appointed private equity firm Palamon Capital Partners to discuss a potential float. Towry previously considered floating the company back in 2010 but decided not to proceed, opting to grow via acquisition instead.  It has since made several large acquisitions, including AXA's Bluefin Personal Consulting and the deal it made earlier this year to acquire Ashcourt Rowan for £120m. At the time of the Ashcourt Rowan deal, Towry chief executive Rob Devey spoke of wanting ...