5th Oct 2006 07:01
Begbies Traynor Group PLC05 October 2006 RNS Reach 5 October 2006 Begbies Traynor launches London and South East Corporate Finance Team Begbies Traynor Group plc, the UK's largest nationwide independent insolvency,corporate rescue and recovery specialist, has launched a new Corporate Financeoperation to advise corporate clients in London and the South East. Heading the team is experienced corporate financier and qualified CharteredAccountant Peter Petyt, 42, supported by colleagues Jonathan Ruffell and SimonWoodcock. Peter is currently recruiting more members to his team and expects theLondon and South East Corporate Finance team to grow to around 12 professionalswithin a year to 18 months. The team will be providing a traditional range of corporate finance advisoryservices related to finance raising and mergers and acquisitions. It will alsohave an additional focus on turnarounds and distressed debt, leveraging off theconsiderable network of national and international Begbies Traynor contacts.Peter expects that the team will concentrate on transaction driven assignments,ranging in value from £1 million to up to £50 million. The London and South East Corporate Finance operation supplements BegbiesTraynor's existing corporate finance operations in the North and coincides witha key phase of the Group's international expansion following the announcementlast Friday of the formation of Begbies Global Network (BGN). Winning majorrestructuring assignments both in the UK and worldwide is increasingly linked tothe ability to introduce funding sources. The expanding corporate financeoperation will work closely both with the Group's UK restructuring team and withmembers of BGN around the world to maximize opportunities and increase revenues. Peter Petyt qualified as Chartered Accountant with Touche Ross in 1989. He thenspent ten years in the general graphic communications sector. During this timehe was responsible for building a group of companies through organic andacquisitive growth with a range of services including photography, design andmarketing, and conventional and digital printing, with an annualised turnover of£10 million. In 1999 Peter was co-founder and Chairman and CEO of Europe's firstsupply-side printing sector e-portal, successfully raising £1 million seedcapital from private investors. In 2001 he joined Chartered Accountants Pridie Brewster as part of theirCorporate Finance team. After this, he joined top 20 UK accountancy group HackerYoung in 2004 before leaving to take the opportunity to lead Begbies Traynor'snew Corporate Finance operation in London and the South East. Peter is a memberof the Board of the Corporate Finance Faculty of the ICAEW and a Liveryman ofthe The Worshipful Company of Stationers' and Newspaper Makers. He also holds anAdvanced Diploma in Corporate Finance. Peter Petyt, Partner in charge of Corporate Finance in London, said: "This is a great opportunity to build a powerful corporate finance brand forBegbies Traynor in London and the South East. We will continue to provide atraditional range of lead advisory services related to finance and mergers andacquisitions, as well as working closely with our new colleagues on turnaroundand distressed debt assignments in the UK and abroad. We have launched with ateam of three, but are looking to build to around 12 staff within a year or so." Mark Fry, south-east managing partner of Begbies Traynor, commented: "We are delighted to welcome Peter and his team to Begbies Traynor. We arecommitted to developing new service lines which demonstrate our focus onincreasing revenues through diversification, but we also see great opportunitiesfor our corporate finance and restructuring teams to work together onassignments requiring a mixture of these skill sets." Enquiries, please contact: Mark Fry/Peter Petyt Neil Boom/Laura Black Begbies Traynor Group plc Gresham PR Ltd. 020 7398 3800 020 7404 9000 Information on Begbies Traynor can be accessed via the Group's website at www.begbies-traynor.com Notes to editors: About Begbies Traynor Group plc The Group specializes in business insolvency management and is becomingincreasingly active in the area of personal insolvency. It also offers servicesin corporate rescue and investigation services and has entered the field ofcorporate finance. In November 2005, the Group entered the rapidly-expanding volume personalinsolvency market via the acquisition of W3 Debt Solutions, a firm specializingin providing advice and practical support to individuals in debt. The Group has grown to its current network of 33 nationwide offices ranging fromScotland to the South West of England, with 350 operatives. The Companycontinues to pursue its strategy of organic development, coupled with theacquisition of specialist knowledge of both individuals and firms, to furtherincrease its market share in its core 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 60 licensed insolvency appointment takers, some 225 feeearning staff and 65 in support and administration. The Group operates from 33locations of which 5 are regional offices, a further 18 are full offices and 10are satellites. Business Activities The core business of the Group is the formal administration of insolvenciesincluding receiverships, liquidations, administrations, company voluntaryarrangements and business- related personal insolvencies. The Group has extended its activities into arange of consultancy services including corporate rescue, credit management,forensic and investigation services and corporate finance. Begbies Global Network Begbies Global Network (BGN) is a new international network of independentprofessionals working to assist declining businesses and their stakeholdersaround the world. A unique feature of BGN is that it will be multi-disciplinary. Its member firmsinclude insolvency accountants, lawyers and trustees, turnaround andrestructuring professionals, forensic accountants, asset tracing experts andcorporate financiers. Clients of BGN members will be able to access acomprehensive world-wide "one stop shop" for cost-effective, value adding, localmarket-based restructuring services. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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