Begbies still on acquisition trail
Begbies buys Wallets in Stoke to continue expansion through acquisitions
BEGBIES TRAYNOR, the listed insolvency pracitioners, have acquired Stoke firm Wallets Insolvency Services.
the news comes in a statement to the markets this morning though the price was not disclosed.
Ric traynor, executive chairman of Begbies, said the acquisition was in line with the firm’s plan to expand its core insolvency and restructuring business.
At the beginning of November the firm announced it has bought Hamiltons, a practice in Sheffield while in June the firm bought Tomlinson in Manchester.
In July Begbies revealed that revenues for the year ending April 2010 were up 11% to £69.1m. Profits before tax were up 6% to £10.4.
Begbies’ share price stood at 108.5p in January this but has been on a downward trend since. It’s lowest point came in July when it reached 53.75p. At the end of trading on Friday the share price stood at 67p.