Last checked at 24 Sep 2019 07:00
24 September 2019
Begbies Traynor Group plc
Acquisition
Enhancing BTG Advisory's consultancy services
Begbies Traynor Group plc (the "Group"), the business recovery, financial advisory and property services consultancy, today announces the acquisition of the entire issued share capital of Regeneratus Consulting 1 Limited ("Regeneratus"), an Exeter based advisory practice with particular expertise in restructuring, turnaround and legal issues.
Founded by Rob Insall in 2016, it reported annual revenue of £0.6 million and pre-tax profits (reported on the same basis as the group) of £0.2 million in the financial year ended 31 March 2019. It had gross assets of £0.6 million as at 31 March 2019.
The Regeneratus team, including Rob Insall, will join our existing South West practice, enhancing the services and advice we can provide to our clients across the region.
Principal terms of the acquisition
The acquisition is for an initial consideration of £0.5 million, to be satisfied in cash from the Group's existing resources. Contingent consideration of up to £1.1 million will become payable subject to the achievement of stretching financial growth targets for the business in the four year period directly following completion. Any additional consideration is calculated according to an agreed formula and is payable in cash.
The acquisition is on a cash free, debt free basis.
Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:
"This acquisition delivers on our strategy of developing the scale and quality of our businesses and continuing to develop our service offering. Rob has successfully grown his practice over the last three years and we look forward to continuing this development as a part of the broader group."
Enquiries please contact:
Begbies Traynor Group plc 0161 837 1700
Ric Traynor - Executive Chairman
Nick Taylor - Group Finance Director
Canaccord Genuity Limited 020 7523 4588
(Nominated Adviser and Joint Broker)
David Tyrrell / Sunil Duggal
Shore Capital 020 7408 4090
(Joint Broker)
Mark Percy / Anita Ghanekar
MHP Communications 020 3128 8572
Reg Hoare / Katie Hunt
Information on Begbies Traynor Group can be accessed via the Group's website atwww.begbies-traynorgroup.com