Begbies Traynor Group PLC - Manchester-based corporate restructuring specialist - Acquires London-based chartered surveyor firm Hargreaves Newberry Gyngell Ltd for an initial cash consideration of GBP400,000 and a contingent consideration of up to GBP600,000 dependent on the achievement of financial targets in the two years following completion. Says the purchase will enhance its existing commercial property management services, improve the national coverage of its commercial property agency team, and increase the capabilities of its lease advisory team.
For its financial year ended September 30, 2020, Hargreaves Newberry posted pretax profit of GBP200,000 on revenue of GBP1.5 million.
Current stock price: 111.67 pence
Year-to-date change: up 20%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Begbies (BEG)