1st Jun 2005 07:02
Begbies Traynor Group PLC1 June 2005 RNS Reach Release 1 June 2005 Acquisition of FDB International Begbies Traynor Group plc has acquired the business of FDB International, whichis an established commercial investigation and security agency, operating fromoffices in London, Surrey and Yorkshire. The acquisition augments the service offering of Begbies Traynor's rapidlygrowing forensic investigations division, by adding specialist skills in frauddetection, the tracing of assets and individuals, intelligence gathering andcorporate security. FDB's services will be deployed within the existing activities of the forensicdivision and will be marketed independently to the extensive contact network ofthe Begbies Traynor Group. These services are also widely used in the corebusiness of the Group; the administration of formal business insolvencies. Forexample, forensic investigation techniques were employed by Begbies Traynor tohelp realise assets of personal injury specialists The Accident Group, wheretotal asset recoveries to date exceed £10 million. The staff of FDB will all remain in place and its management are committed andincentivised to grow the business as part of the Begbies Traynor Group, whilstretaining the established brand of the business and its existing network ofclients, which includes lawyers, public authorities and financial servicesbusinesses. Begbies Traynor's purchase of FDB is the third acquisition it has completedsince joining the Alternative Investment Market in October 2004. The other twoinclude last month's acquisition of Leeds-based MCF Corporate Finance Limited,and in February, A Segal & Co., an Essex practice specialising exclusively ininsolvency work (company administrations, personal bankruptcies, liquidationsand receiverships). It is Begbies Traynor Group's aim to double its market share by 2007 throughcontinued organic growth and further acquisitions. Ric Traynor, Executive Chairman of Begbies Traynor Group, comments: "We are delighted to have acquired FDB and I welcome its team to the BegbiesTraynor Group. FDB is a respected operator in one of the market'sfastest-growing niches. By joining Begbies Traynor it will benefit by becomingpart of a well-regarded national practice and enhance our rapidly-growingforensic and investigations offering. This will help raise FDB's profile amongbusiness referrers and broaden its customer base." Enquiries, please contact: Ric Traynor Neil Boom/Rosemary AcfieldExecutive Chairman Gresham PR Ltd.Begbies Traynor Group plc 020 7404 90000161 839 0900 Notes to Editors About Begbies Traynor Group plc The Group specialises in corporate insolvency management, offering expertise inadministrative receivership and liquidation services as well as personalinsolvency management including individual voluntary arrangements. It alsooffers services in the fields of corporate rescue and forensic investigation andhas entered the field of corporate finance through the acquisition of MCFCorporate Finance. The Group has grown to its current network of 25 nationwideoffices ranging from Scotland to the South West of England, with over 250operatives. The Company intends to pursue a strategy of organic development,coupled with the acquisition of specialist knowledge of both individuals andfirms, to further increase its scope and range of services. The Directors believe that the Group is the UK's largest independent insolvency,corporate rescue and recovery specialist with clients ranging from majorinstitutions to individuals with business difficulties. The Office Network The Group operates with 45 licensed insolvency appointment takers, some 145 feeearning staff and 55 in support and administration. The Group operates from some25 locations of which five are regional offices, a further eight are fulloffices and eleven are satellites. MCF Corporate Finance operates from its ownoffice in Leeds with nine professional and two support staff. Business Activities The core business of the Group is the formal administration of insolvenciesincluding receiverships, liquidations, administrations, company voluntaryarrangements and personal insolvencies. The Group has recently extended itsactivities into a range of consultancy services including corporate rescue,credit management, forensic and investigation services and corporate finance. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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