TLDR:
- The takeover deadline for Equals Group and Madison Dearborn has been extended until February 21.
- Equals Group has experienced strong revenue growth in 2023, with unaudited revenues of £95.5 million.
The London-listed fintech company, Equals Group, has extended the deadline for a potential takeover, following a trend of firms departing London’s markets. The company initiated a strategic review last November and entered into talks with US-based private equity group Madison Dearborn Partners regarding a potential sale. The extension of discussions with Madison Dearborn has prompted a request for an extension of the put-up-or-shut-up deadline until February 21. This interest aligns with a series of takeover bids targeting London firms in the latter half of the previous year, with analysts anticipating more take-privates as markets stabilize. Equals Group achieved strong revenue growth of 37% in 2023, driven by its Solutions business and B2B products. The company also held approximately £18.3 million in cash and expressed confidence in its 2024 plans. Equals Group plans to report audited full-year results in April 2024 after acquiring Oonex S.A. and Roqqett Limited in 2023.
