Begbies Share News (BEG)

(Sharecast News) - Professional services consultancy Begbies Traynor has acquired a portfolio of 503 Scottish personal insolvency cases from Grant Thornton UK for up to £500,000.
Begbies Traynor said the deal involved an initial payment of £250,000, with the same on offer subject to fee income generated from the caseload post-completion.

The AIM-listed group said on Monday that the cash would come from existing financial resources and highlighted that the new cases would be added to its existing Scottish personal insolvency portfolio of roughly 1,500.

Chairman Ric Traynor said: "As we reported in our recent trading update, the group is in a strong position, trading well and we continue to seek opportunities to grow the business, both organically and through acquisitions."

As of 1010 BST, Begbies shares were up 3.31% at 100p.