Begbies Traynor expands with Manchester acquisition
Business recovery outfit Begbies Traynor has acquired Manchester insolvency specialists, Cooper Williamson Ltd, in a deal worth £0.9m.
In the year to June Cooper Williamson reported revenue of £1.7 million and a pre-tax profit of £0.4 million. The move will see the firm move into Begbies’ existing Manchester offices.
Ric Traynor, executive chairman of Begbies Traynor Group plc, commented: “The acquisition of Cooper Williamson is an exciting development for us, and is in line with our strategy to enhance our position as the UK’s leading independent insolvency practice.
“It will reinforce our presence in the North West and give us the opportunity to expand Cooper Williamson’s already successful model and business rescue internet portal on a national scale.”
The deal will be satisfied with cash of £0.45 million and through the issue of 1,141,842 new ordinary shares of 5 pence each in Begbies Traynor Group plc.
This was posted in Bdaily's Members' News section by Tom Keighley .