Share Name Share Symbol Market Type Share ISIN Share Description
Begbies Traynor Group Plc LSE:BEG London Ordinary Share GB00B0305S97 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.25 0.29% 85.25 84.50 86.00 83.50 83.50 83.50 32,508 16:35:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 60.1 3.5 2.2 38.8 107

Begbies Traynor Group PLC Acquisition

24/09/2019 7:00am

UK Regulatory (RNS & others)


Begbies Traynor (LSE:BEG)
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2 Months : From Sep 2019 to Nov 2019

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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 GBP0.6 million and pre-tax profits (reported on the same basis as the group) of GBP0.2 million in the financial year ended 31 March 2019. It had gross assets of GBP0.6 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 GBP0.5 million, to be satisfied in cash from the Group's existing resources. Contingent consideration of up to GBP1.1 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

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September 24, 2019 02:00 ET (06:00 GMT)

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