According to firm, ALJ is a “well-established” firm and is ranked as a top 20 UK insolvency practice (by insolvency appointments). The team of 24 directors and employees will join the group and “enhance” its existing strong network of offices across London and the south-east.
Begbies said the acquisition is in line with its strategy to increase the scale and market share of its market-leading insolvency practice.
The business has a strong recent record of financial performance; in the financial year ended 30 June 2019, ALJ reported annual revenue of £3.1m and pre-tax profits of £0.9m, when reported on the same basis as the group. It had gross assets (excluding cash) of £0.5m as at 30 June 2019.
Ric Traynor, executive chairman of Begbies Traynor Group, said: “I am very pleased to welcome the Alexander Lawson Jacobs team to the group. They are an experienced team with a strong recent growth record, which will enhance our existing strong network of offices across London and the South-East.
“This acquisition is in line with our strategy to increase the scale and market share of our market-leading insolvency practice.”