18th Jan 2021 13:55
Begbies Traynor Group PLC - firm specialising in corporate restructuring - Completes the acquisition of CVR Global LLP for a maximum potential consideration of GBP20.8 million on a cash free and debt free basis, financed from its existing bank facilities. Initial cash consideration of GBP12.0 million will be financed through the company's existing facilities. In addition, contingent cash consideration of up to GBP4.0 million will be paid, subject to profit-enhancing financial performance conditions in the first three years post acquisition. Finally, earn out of up to GBP4.8 million will be paid, subject to successful fee realisations on three long-running contentious insolvency appointments. Begbies Traynor says the transaction adds first overseas offices, enhancing the offering provided by Begbies Traynor Global Advisory. "The group continues to consider further acquisition opportunities and organic investments in both of its divisions, in line with our stated strategy," says Ric Traynor, executive chair of Begbies Traynor.
Current stock price: 104.50 pence, up 6.4% on Monday
Year-to-date change: up 12%
By Evelina Grecenko; [email protected]
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