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Adsure Services IPO set to accelerate growth and enable strategic acquisitions

Adsure Services IPO set to accelerate growth and enable strategic acquisitions

Adsure Services is the holding company for TIAA Ltd, a wholly owned subsidiary that provides a suite of business assurance and advisory services across a variety of public and not for profit sectors including Housing, Healthcare, Education and Charities.

The core of the business, at circa. 70% of annual revenue, is derived from internal audit and other assurance services delivered to public service organisations.

The complementary advisory services range from anti-crime, security management, digital assurance and information governance with assurance services including internal audit, scrutiny and compliance-related services.

Full Year revenue to March 2023 was approximately £9.0m and profitable with a strong balance sheet, as of March 2023, with Net Assets of £1.4m and cash at bank of £1.8m.

The Company aims to publish its Half yearly accounts by end of December this year and expects to continue to pay a dividend.

Adsure Services started trading on Aquis this week under the ticker ADS with a market capitalisation of £4.75m. Kevin Limn, CEO of Adsure, hopes the IPO will raise the profile of the business to grow market share and enable strategic acquisitions into adjacent markets.

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