Agent GVA said on Wednesday that it has appointed corporate finance firm Cannacord Genuity to review its strategic options in order to pay back its minority private equity owner and grow on the international stage.

Agent GVA said on Wednesday that it has appointed corporate finance firm Cannacord Genuity to review its strategic options in order to pay back its minority private equity owner and grow on the international stage.

The options under review include a sale of the company, an initial public offering or a debt refinancing to pay back its minority shareholder, private equity firm LDC, according to a company spokesperson.

The strategic review comes after a restructuring of GVA's debt last year and sharp improvements in the company's pre-tax profits which grew from £146,000 in the 2011-12 financial year to £7.8 mln in 2012-13.

'This builds on the good work we have achieved over the past two years, and marks the next step in achieving our long-term aspirations for major growth and in creating a truly international dimension to our UK facing business,' commented Rob Bould, chief executive of GVA.

GVA aims to create a performance-led business that can achieve pre-tax profits of £20 mln by 2016.

Headquartered in London and with 12 offices, the 190-year old agency is currently the UK’s largest independent commercial property consultant. Its overall business generated a turnover of £147.3 mln in the year ended 30 April 2013, up from £140.4 mln on the previous year. GVA is also the majority shareholder in GVA Worldwide, a partnership of independent commercial real estate companies serving over 50 markets throughout Europe and Asia.

Last year, GVA completed a restructuring of its debt with shareholder Lloyds Development Capital exchanging loan notes valued at £60 mln for a 27.5% stake in the company.

Bould said that the company is 'just 10 months away from being a debt-free business'. 'Positive market sentiment built on hard evidence that better times lay ahead here in the UK and globally, means now is an important period in which to invest in our future and gain further momentum,' Bould noted.