Begbies Traynor acquires MMXI to bolster property consultancy services division

Writer, Stock Market Wire
Friday, February 1, 2019 - 10:09

Begbies Traynor said Friday it had acquired Croft Transport Planning & Design company MMXI for total of up to £4m in a bid to enhance its specialist property consultancy services.

The acquisition of MMXI also included the Manchester based team and management, and would be integrated with the company's existing Eddisons property services division, Begbies Traynor said.

Under the terms of the acquisition, Begbies paid an initial £1.5m, with a further £2.5m due if MMXI meets future performance terms in the five year period directly following completion.

The acquisition was expected to be earnings enhancing, both initially and after any additional consideration is paid, the company added.

'The acquisition will enhance our professional services business, through widening the range of our specialist consultancy services and increasing the number of our clients,' Begbies Traynor said.

At 10:09am: (LON:BEG) Begbies Traynor Group PLC share price was +1.3p at 62.7p

Related content

Begbies Traynor releases AGM Statement and Trading Update

Ric Traynor, Executive Chairman, will make a statement on trading at today's Annual General Meeting:

'Revenue and profit growth in the first quarter is...

Thu, 19/09/2019 - 07:32

Begbies Traynor appoints four new partners to advisory arm

Begbies Traynor said its boutique advisory arm had appointed four new partners as it expanded its corporate finance offering.

The partners had joined the company's...

Mon, 16/09/2019 - 13:24

Begbies Traynor plans to raise £8.3m gross through placing to fund acquisitions

Begbies Traynor Group detailed plans to raise gross proceeds of up to £8.3m through the placing of shares at a discount to fund acquisition opportunities....

Fri, 26/07/2019 - 08:07

Begbies Traynor expects performance to top market expectations following strong Q4

Begbies Traynor said it expected performance to top market expectations as it performed strongly in the final quarter of the year, due to a number...

Tue, 07/05/2019 - 09:36

Begbies Traynor Group acquires Barker Storey Matthews for up to £3m

Begbies Traynor Group acquired BSMH, which traded as Barker Storey Matthews for a total up to £3m.

BSM, one of the largest independent firms...

Fri, 05/04/2019 - 08:49