Begbies Traynor has announced that it has acquired MAF Finance Group (MAF) for a total consideration of £11.75m.
MAF is a firm of finance brokers, operating nationally from a head office in the Midlands with a team of 46 employees, including two directors, who will all join the group.
The acquisition complements the group’s existing advisory and transactional services, particularly debt advisory and restructuring, as well as the valuation and sale of assets (including property, plant and machinery through the group’s Eddisons property division).
It will also deepen the group’s existing relationships with banks and other lenders.
Ric Traynor, executive chairman of Begbies Traynor Group plc, said: “The acquisition of MAF is in line with our growth strategy and complements our existing, and expands the range of, our service lines.
“As companies seek to bounce back from the pandemic, access to finance will be critical and going forward the MAF team will prove invaluable in increasing the support and advice we can provide to UK businesses.”
Dave and Sue Chapman, directors at MAF, added: “We are delighted to announce that MAF Finance Group has joined the Begbies Traynor Group Plc.
“We will continue to trade under the MAF brand as a ring-fenced broker and look after our growing client base, but with the all the benefits of being part of a wider group, bringing additional services to our clients and the added value of a national office network across the UK.”