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Begbies Traynor expands Scottish operations

Begbies Traynor has announced the acquisition of a portfolio of 503 Scottish personal insolvency cases, including a team of five fee earners, from Grant Thornton UK.

The consultancy group said that the move would increase its existing operations in Scotland, which provide corporate and personal insolvency as well as restructuring advisory services through an existing 36-strong team.

Following the acquisition, the new team will operate from its Glasgow and Edinburgh offices, with the acquired cases added to its existing Scottish personal insolvency portfolio of around 1,500 cases.

The firm said that the acquisition was for an initial consideration of £0.25m, and an additional contingent consideration of up to £0.25m, subject to fee income generated from the new cases post-completion. It will be payable from the group’s existing financial resources.

Ric Traynor, executive chairman of Begbies Traynor, said: “The acquisition of this team and cases will enhance our existing strong insolvency team across Scotland and I am very pleased to welcome them to the group.  

“As we reported in our recent trading update, the group is in a strong position, trading well and we continue to seek opportunities to grow the business, both organically and through acquisitions.”

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