An American private equity giant is considering a cash offer for GB Group.

The London-listed identity specialist, headquartered in Chester, is currently valued at around £1.3 billion.

GTCR, based in Chicago, confirmed that it is eyeing a potential deal following press speculation but said there was no guarantee that an offer would be made. It has until 5pm on 4th October to make an offer.

GBG responded this morning with the following statement to the London Stock Exchange: “The board of GBG notes GTCR’s statement that there can be no certainty that any firm offer will be made for the company, nor as to the terms on which any firm offer might be made. Any proposals received will be evaluated by the board of GBG together with its advisers.”

It urged shareholders to take no action.

GBG – which has been on an acquisition drive – reported revenue for the year ended March 2022 of £242 million with operating profits of around £58m. It appointed Richard Longdon as chair in the summer.

GTCR, which closed a strategic growth fund of $2bn in January, has invested more than $20bn in more than 250 companies since its inception in 1980.

It is focused on the financial services, growth business services, healthcare and technology industries.