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