Business and technology consultancy Conchango has appointed Altium Capital to advise on strategic options for raising funds and accelerating its growth plans in 2007. Conchango’s aim is to accelerate growth through acquisitions and additional investment. It plans to increase turnover organically by 30% and acquire in the £8-£10m range in 2007.

2006 saw Conchango’s revenue grow 50% to £30m. In order to maintain this growth rate in 2007 Conchango is looking to acquire: companies in complementary sectors to allow it to penetrate new markets; companies with innovative technologies and people to further broaden its proposition; and companies that will further Conchango’s geographic reach. Mike Altendorf, CEO and Richard Thwaite, Chairman will continue to lead the company but shares in the business will be sold to new investors. Richard Thwaite says: “We’re looking forward to completing a record year in 2006 and going into 2007 excited by a bigger opportunity and with the investment required to accelerate our growth.”

For further information please contact lorraine.branch@conchango.com or 0207 261 4484

Published on: 12:00AM on 1st November 2006