Begbies buys Leeds insolvency firm

Begbies buys Leeds insolvency firm

Acquisition adds 17 full-time staff

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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