I Agree

We have updated our Privacy and Cookie Policy. By clicking "I Agree" below, you acknowledge that you accept our Privacy and Cookie Policy and Terms of Use.

PLEASE TELL US A LITTLE ABOUT YOURSELF SO THAT WE CAN DISPLAY THE MOST
APPROPRIATE CONTENT TO YOU:

This site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about cookies used on Trustnet and how you can manage them, see our Privacy and Cookie Policy.

By clicking "I Agree" below, you acknowledge that you accept our Privacy Policy and Terms of Use.

For more information Click here

Login

Register

It's look like you're leaving us

What would you like us to do with the funds you've selected

Show me all my options Forget them Save them
Customise this table
Share   Print      RSS

Begbies Traynor (BEG)

Begbies Traynor

Acquisition
RNS Number : 3702N
Begbies Traynor Group PLC
24 September 2019
 

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 at
www.begbies-traynorgroup.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ACQBRGDCXSDBGCX
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

You are currently using an old browser which will not be supported by Trustnet after 31/07/2016. To ensure you benefit from all features on the site, please update your browser.   Close