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WYG has launched a strategic review of options that could result in it being part of a larger entity. Merchant bank Lazard & Co is advising WYG.
The company says that it is too small to exploit opportunities that are coming its way.
In a statement, the board said: “WYG is enjoying strong growth in its project pipeline and is creating almost more opportunities than it can readily service directly using its existing model of organic growth, supplemented by smaller bolt-on acquisitions and partnerships.
“Against this background, the board of WYG recognises that this strategic review may or may not conclude that, given its current relative scale, being part of a larger business or expanding the scale of its current operating platform would provide significant advantages and better position the company to take full advantage of its growth potential.”
It added: “At this stage, however, all options available to the company are being considered.”
Options being considered include “a strategic partnership, a merger or acquisition to enhance the scale and breadth of WYG's platform, the acquisition of or subscription for the company's securities by a third party, a sale of the company, a new or extended bank facility or continuing to invest in expanding the business organically and through partnerships and bolt-on acquisitions”.
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