Begbies Traynor acquires rival
Insolvency specialist Begbies Traynor has acquired rivals A Segal and Co in its first acquisition since joining Aim.
The group will pay £450,000 up front and further annual payments of at least £50,000, depending on Segal hitting turnover goals, The Financial Times reports.
Begbies Traynor executive chairman Ric Traynor said Andrew Segal – the founder of the newly acquired business – had ‘built up a very profitable firm’ and had joined Begbies Traynor to do ‘bigger and better’ work.
Traynor said the integration would see cost savings, and expected the acquisition to be ‘earnings enhancing’.