24th Sep 2026 08:37
BTG Consulting PLC - Manchester, England-based insolvency and real estate advisor - Says it has acquired property and asset manager Hornbeam CPAM Ltd for up to GBP4.0 million. Hornbeam will be integrated in BTG Eddisons, the real estate advisory branch of the group. The initial consideration is of GBP2.0 million, of which GBP1.65 million in cash and GBP350,000 through the issue of 313,059 new ordinary shares of 5 pence each. Two additional payments of GBP1.0 million each payable in cash are conditional to financial performance in the first two years after the acquisition and profit-enhancing financial performance conditions. BTG says the cash consideration will be met from the group's existing financial resources. Managing Director of BTG Eddisons Anthony Spencer says: "The acquisition expands our property management activities, adds complementary asset management expertise and strengthens our offering to institutional property investors."
Hornbeam's revenue for the year ended on January 31 was GBP1.9 million and pretax profit was of GBP600,000. Director of Hornbeam Sophie Hart says: "Joining BTG Eddisons will allow us to provide clients with access to a broader range of real estate expertise and a nationwide platform."
Current stock price: 114.89 pence each, down 1.0% on Thursday morning
12-month change: down 1.4%
By Camilla Borri, Alliance News reporter
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