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Share Price: 131.00

Bid: 130.00

Ask: 132.00

Change: -4.50 (-3.32%)

Spread: 2.00 (1.538%)

Open: 131.50

High: 132.50

Low: 129.50

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FRP Advisory expands in Isle of Man with GWS acquisition

Mon, 11th Mar 2024 11:56

(Alliance News) - FRP Advisory Group PLC on Monday said it has bought GWS, which provides advisory and insolvency services across the Isle of Man.

The London-based corporate finance, restructuring and debt adviser did not disclose how much it paid for the company. However, it said 444,445 shares will be issued as part of the transaction.

FRP noted that GWS consists of two entities: GW Holdings Ltd and Gordon Wilson & Co Ltd.

The acquisition is the company's eighth since its initial public offering in March 2020.

"FRP's strategy is to generate sustainable profitable growth by combining a focus on organic growth with acquisitions that meet the group's selective criteria. This approach enables the group to increase market share, broaden the service offering to clients and expand its geographical footprint," FRP said.

Shares in FRP were up 2.0% to 113.95 pence each in London on Monday around midday. Since its IPO, the stock has shot up 42%.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

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