28 September 2020
FRP ADVISORY GROUP PLC
("FRP", the "Group" or the "Company")
Acquisition of the business and assets of Abbott Fielding Limited
FRP Advisory Group plc, a leading UK professional services firm specialising in restructuring advice, is pleased to announce the acquisition of the business and assets of Abbott Fielding Limited, a business recovery practice based in Sidcup, Kent. The firm's sole director, Nedim Ailyan (Ned) will join FRP as a Partner along with all staff, including 8 fee earners.
Geoff Rowley, FRP CEO said: "We are pleased to complete another acquisition that continues to selectively build our UK footprint. This deal gives us a Restructuring presence in the Kent region, with a team who share our values. We look forward to their contribution to FRP."
Ned Ailyan, founder of Abbott Fielding, said: "We are delighted to be joining FRP and excited by the growth opportunities, to help and act for more local businesses and individual clients in the South East region and nationally."
869,565 new ordinary shares are to be issued as part of the transaction with application to be made to trading on the AIM market of the London Stock Exchange ("Admission"). The new ordinary shares will rank pari passu with the existing ordinary shares. It is expected that Admission of the Shares will become effective and that dealings will commence at 8.00 a.m. on or around 2 October 2020. Following the issue of new ordinary shares the Company will have 239,558,637 ordinary shares in issue.
FRP Advisory Group plc
Geoff Rowley, CEO
Jeremy French, COO
Gavin Jones, CFO
Enquiries via MHP
Cenkos Securities plc (Nominated Adviser and Sole Broker)
Max Hartley/Max Gould (Corporate Finance)
Alex Pollen (Sales)
Tel: +44 (0) 207 397 8900
MHP Communications (Financial Public Relations)
Tel: +44 (0) 20 3128 8570
Notes to Editors
FRP is a professional services firm established in 2010 which offers a range of advisory services to companies, lenders, investors and other stakeholders, as well as individuals. These services include:
· Restructuring advisory: corporate financial advisory, formal insolvency appointments, informal restructuring advisory, personal insolvency and general advice to all stakeholders.
· Corporate finance: mergers & acquisitions (M&A), strategic advisory and valuations, financial due diligence, capital raising, special situations M&A and partial exits.
· Debt advisory: raising and refinancing debt, debt amendments and extensions, restructuring debt, asset based lending and corporate and leveraged debt advisory.
· Forensic services: forensic investigations, compliance and risk advisory, dispute services and forensic technology.
· Pensions advisory: pension scheme transaction advisory, pension scheme restructuring advisory, covenant advisory and corporate governance