17th Mar 2021 14:33
Begbies Traynor Group PLC - Manchester-based corporate restructuring specialist - Completes acquisition of insolvency practice David Rubin & Partners Ltd for up to GBP25 million on cash free and debt free basis. Notes it will pay initial consideration of GBP12 million and a deferred consideration of up to GBP13 million, subject to the business's financial performance over a period of up to five years.
"The acquisition of DRP is our largest acquisition to date and is expected to be immediately earnings enhancing. It leaves the group well-positioned to increase its market share and continue to grow its business recovery and financial advisory revenue. With the benefit of this and other recent acquisitions together with organic growth initiatives the group is well-positioned to deliver material growth in the 2021 to 2022 financial year," says Executive Chair Ric Traynor.
Current stock price: 113.33 pence
Year-to-date change: up 22%
By Zoe Wickens; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Begbies