Largo deal enhances Winterhill’s AIM plans

YORKSHIRE debt recovery firm Largo has been bought by a group aiming to float on the London Stock Exchange.

Winterhill Group is buying Largo, based in Ossett near Wakefield, as part of its expansion plans and flotation on AIM.

Winterhill provides asset valuation and debt recovery services and is planning to list on AIM in the near future.

Lancashire-based Winterhill said it plans to raise about £6m through a placing to buy Largo, as well as provide working capital and funds for more acquisitions.

It said the acquisition will allow it to provide a one-stop-shop for insolvency practitioners, financial institutions and asset-based lenders.

Largo, also known as Legal and Receivables, was founded in May 2002 by Paul Snook and employs 30 staff.