Begbies Traynor acquires Regeneratus Consulting 1 Limited for £0.5m
Source - SMW
Begbies Traynor Group, the business recovery, financial advisory and property services consultancy, announced the acquisition of Regeneratus, an Exeter based advisory practice with particular expertise in restructuring, turnaround and legal issues.
Regenatus reported annual revenue of £0.6m and pre-tax profits of £0.2m in the financial year ended 31 March 2019. It had gross assets of £0.6m as at 31 March 2019.
The acquisition is for an initial consideration of £0.5m, to be satisfied in cash from the Group's existing resources.
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.'
At 9:10am: (LON:BEG) Begbies Traynor Group PLC share price was +0.75p at 76.75p