(Sharecast News) - Begbies Traynor announced on Thursday that its property advisory and transactional services division Eddisons has expanded its operations in Sheffield through the acquisition of Mark Jenkinson & Son, a chartered surveyor firm specialising in property auctions.
The AIM-traded company noted that the acquisition came on the back of its takeover of Fernie Greaves in October 2021.
It said the move would help Eddisons expand its existing Sheffield team, while integrating and expanding its property auction business.
The deal, which included cash consideration of £0.4m, would be funded by the group's existing financial resources.
Begbies Traynor said Mark Jenkinson & Son, which generates annual fee income of around £1m, would be integrated into Eddisons' team.
"The acquisition of the Mark Jenkinson & Son business will enhance our existing property auction team and grow our successful team in Sheffield and South Yorkshire," said Anthony Spencer, managing partner at Eddisons.
"I am very pleased to welcome the team to Eddisons and to the wider Begbies Traynor Group."
At 1309 GMT, shares in Begbies Traynor Group were up 2.04% at 140p.
Reporting by Josh White for Sharecast.com.
Begbies (BEG)