BEGBIES TRAYNOR GROUP PLC

M&A Activity • Sep 30, 2015

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RNS Number : 8068A

Begbies Traynor Group PLC

30 September 2015

30 September 2015

Begbies Traynor Group plc

Acquisition

Begbies Traynor Group plc (the "Group"), the business recovery and property services consultancy, today announces its agreement to acquire the trade and certain assets of The P&A Partnership Ltd ("P&A") out of administration for a maximum cash consideration of £860,000 ("the Transaction") in a pre-pack deal.

Based in Sheffield, P&A was founded in 1875 and has grown to become a significant regional provider of business recovery and insolvency services together with providing commercial finance broking, asset recovery, creditor and asset based lender support services. Under the Transaction, 36 P&A staff will join the Group, including three former key Directors, to combine with our existing team of 47 insolvency professionals in Yorkshire.

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:

"The acquisition of P&A's team and cases further enhances our position as the UK's leading independent insolvency practice. In particular, its strong regional presence and team will position Begbies Traynor as the leading appointment taker in Yorkshire and will bring additional strength in asset based lender and creditor services.  We are very pleased to welcome the team to the Group. 

"The Group remains well placed to continue to take advantage of opportunities to develop and enhance the business both organically and through selective acquisitions."

- ENDS -

Enquiries please contact:

Begbies Traynor Group PLC                                                                                                         0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited                                                                                                         020 7523 8350

(Nominated Adviser and Joint Broker)

Bruce Garrow

Shore Capital                                                                                                                                     020 7408 4090

(Joint Broker)

Pascal Keane

MHP Communications                                                                                                                  020 3128 8100

Reg Hoare / Katie Hunt / Giles Robinson                                                                         begbies@mhpc.com

Notes:

Begbies Traynor Group plc operates from 43 UK locations through two operating divisions. 

Begbies Traynor is the UK's leading independent business recovery practice handling the largest number of corporate appointments, principally serving the mid-market and smaller companies. We provide a range of specialist professional services primarily to businesses, their professional advisors and the major banks covering insolvency, restructuring and risk management activities.

Eddisons is a leading UK firm of chartered surveyors, offering a wide range of specialist services to banks, insolvency practitioners, and owners and occupiers of commercial property. The core services offered are valuation and disposal of property including fixed charge property receiverships; valuation and disposal of machinery and business assets; auctions; insolvency insurance brokerage; property and facilities management; and building consultancy and ratings valuations.

Information on Begbies Traynor Group can be accessed via the Group's website at www.begbies-traynorgroup.com 

Follow Begbies Traynor on Twitter @Begbies 

This information is provided by RNS

The company news service from the London Stock Exchange

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