Business Systems Group (BSG) was thrust into the limelight last week by announcing that it is to float on the London Stock Exchange.
The reseller, which has maintained a low profile for the last couple of years, is expected to be valued at £150m when it floats in June or July. It will also raise about £40m for marketing and expansion.
BSG, which was founded by Nick Gerard and Phil Buckingham in 1987, recorded profits of £800,000 on turnover of £32.4m for the year ended 30 June 1999. Gerard, who is chief executive, owns 80 per cent of the company, while Buckingham, who retired this month, is believed to be selling his 20 per cent stake.
The company has two subsidiaries: BSG, the product, services and systems integration arm, and Webgenerics, the application service provider division.
Nick Wilding, group marketing director at BSG, said the company had decided to float because it has a "unique proposition" for the corporate market with its "We can, You can" methodology. He said BSG's track record and existing position in the market, experienced staff and long-standing established relationships with vendors such as Compaq, Oracle, Microsoft and Sun, makes it a good candidate for a successful flotation.
Wilding would not comment on whether a listing signals a serious intent by BSG to launch an assault on the corporate reseller market and its rivals. But Gerard said in a statement: "Our flotation is an important step in the development of the Group that will raise its profit and provide more flexibility in financing our future growth, both organically and by acquisition."
First appeared in Computer Reseller News
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