Member Article

Manchester’s Begbies Traynor acquire Yorkshire company for £200k

Manchester’s business recovery consultancy Begbies Traynor have acquired a Yorkshire-based company for £200k.

Broadbents Business Recovery Services Limited was established in 2010 and has offices in York and Hartlepool, it reported pre-tax profits of £100k for its financial year.

The acquisition of Broadbents is payable in cash and its founder and six staff will join the Begbies Traynor practice.

Should revenue targets be reached the contingent consideration for the acquisition rises to £350k in two years time.

Executive chairman of Begbies Traynor, Ric Traynor, said: “The acquisition of Broadbents further enhances our position as the UK’s leading independent insolvency practice.

“It brings additional expertise and relationships to the Group’s existing operations in the important Yorkshire and Northern region.

“We are pleased to welcome David and his team to the Group.

“We remain well placed to take advantage of opportunities to develop and enhance the business, both organically and through selective acquisitions”

This was posted in Bdaily's Members' News section by Sophia Taha .