AIM-listed corporate recovery firm Begbies Traynor has bought the Leeds-based
insolvency firm, Wilson Pitts, from founding partners David Wilson and Julian
The deal will see Begbies pay an initial £1.1m, with the option of paying an
additional £700,000 in cash or Begbies shares. Further payments will be made
subject to turnover targets.
Seventeen full time staff from Wilson Pitt will join the Begbies team.
The Leeds office is an important one for Begbies, generating around £6m in
annual fee income. Last year Wilson Pitts achieved fee income of around £1.8m.
Wilson Pitt specialises in services to the residential care home market.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children