Corporate Team advises on acquisition of EddisonsPrint news article
The Corporate Team at Walker Morris has advised one of the UK’s leading national firm of chartered surveyors, Eddisons Commercial (Holdings) Limited, on its acquisition by Begbies Traynor Group plc, for a total consideration worth £8.8 million.
The Manchester-based accountancy firm has agreed to purchase the entire issued share capital of Eddisons and pay an initial £5.3m in shares and a further £3.5m in cash or shares based on future performance.
Richard Naish from the corporate team at Walker Morris represented the individual sellers of Eddisons who have owned and managed the business since completing an MBO in 2008. Upon completion Eddisons will continue to be run by members of the current management team.
Begbies said the acquisition is in line with its strategy to enhance its market-leading insolvency practice through developing complementary service offerings including valuation consulting. Eddisons brings expertise in the valuation and disposal of property and business assets for insolvency, which is intrinsic to Begbies core insolvency practice.
“There are a number of synergies between the two companies and the combined expertise will create an enhanced service offering to the market. We have provided advise to a number of management teams on the sale of companies in recent months which is testament to the Walker Morris Team’s reputation as a trusted adviser.”