Corporate Finance

Begbies Traynor acquires Daniells Harrison Surveyors

Daniells Harrison is a firm of chartered surveyors employing 27 staff who will integrate with Eddisons, the group's property advisory and transactional services division

Begbies Traynor Group has completed the acquisition of Daniells Harrison Surveyors for a total consideration of £2m.

Daniells Harrison is a firm of chartered surveyors employing 27 staff who will integrate with Eddisons, the group’s property advisory and transactional services division.

The acquisition is in line with the group’s strategy, as the Daniells Harrison team will extend the geographical coverage of the division which has now broadened from its original northern base, to include London and Eastern England as well as now the South Coast.

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In addition, the acquisition includes a maximum cash earn out of £1.25m subject to meeting growth targets over the five year period post completion. This gives a maximum consideration of £3.25m (on a cash free debt free basis).

Anthony Spencer, director at Eddisons, said: “I am very pleased to welcome the Daniells Harrison team to Eddisons, which extends our geographical coverage across the South Coast.

“They are a highly experienced team with a proven track record in delivering high quality professional advice. We continue to seek further opportunities for expansion across the UK.”

Ric Traynor, executive chairman of Begbies Traynor Group, added: “The acquisition of Daniells Harrison is in line with our strategy to develop our property advisory and transactional services division, by increasing both its scale and market position, as well as the scope of its service offering and geographical coverage.

“Daniells Harrison has excellent relationships with a broad range of clients which have been developed over many years and we are very much looking forward to working with them.”

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