The firm, which provides compliance, technology and business services to financial advisers and financial institutions, reported a 24 per cent rise in revenue and a 50 per cent increase in earnings before interest, taxes, depreciation and amortisation (EBITDA), in a trading update.
Defaqto has been integrated into the SimplyBiz Group which serves 5,800 intermediary firms and more than 350 financial institutions.
Matt Timmins (pictured), joint CEO of The SimplyBiz Group, said: “We are delighted to have successfully completed the acquisition and integration of Defaqto and welcome these new colleagues into the SimplyBiz Group.
“The acquisition significantly expands our customer base and breadth of proposition, while enhancing the group’s strong and sustainable profit margins.”
The group intends to publish its full-year results on 10 March.
