Focus Financial files to raise $100 million in IPO with ‘interesting’ timing
Louis Diamond Quoted
By Brooke Southall
Focus Financial filed the paperwork to complete an initial public offering.
The New York-based roll-up, which recorded revenues of $663 million in 2017 filed an S-1 form with the U.S. Securities and Exchange Commission and the Nasdaq symbol will be FOCS. No pricing information was given.
“It’s interesting timing that they would IPO after they just recapitalized with KKR and Stone Point, says Louis Diamond, principal of Diamond Consultants. “It’ll have an effect on partners and employees who are looking to monetize some of their equity.”
“As a public company some of their secret sauce and flexibility does get eroded,” Diamond says.