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    Begbies buys Leeds insolvency firm

    Begbies buys Leeds insolvency firm

    Acquisition adds 17 full-time staff

    Author Date published June 14, 2006 Categories

    AIM-listed corporate recovery firm Begbies Traynor has bought the Leeds-based
    insolvency firm, Wilson Pitts, from founding partners David Wilson and Julian
    Pitts.

    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.

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