Begbies Traynor acquires Banks Long & Co

Begbies Traynor Group, the business recovery, financial advisory and property services consultancy, has recently announced that it has completed the acquisition of BLC No1 Limited, which trades as Banks Long and Co.

Banks Long and Co is a firm of chartered surveyors employing 38 staff in Lincoln and operating throughout Lincolnshire and Humberside. The business will integrate with Eddisons, the group’s property division.

The Banks Long and Co team provide commercial property agency, property management, building consultancy and valuation services to a wide range of regional clients including public and private sector organisations, which aligns with the group’s current service offering and strengthens our regional presence across Eastern England and South Yorkshire.

In its financial year ended 31 August 2022, Banks Long and Co generated revenues of £2.6m and normalised pre-tax profits of £0.4m. Trading is projected to at least maintain this level in the current financial year to date. 

Ric Traynor, executive chairman of Begbies Traynor Group, said: “The acquisition of Banks Long and Co 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.

“Banks Long and Co has excellent relationships within its local marketplace offering its clients a broad range of real estate services which they have developed over many years and we are very much looking forward to working with them.”

Since the creation of the division through the acquisition of Eddisons in December 2014, the group has built a strong track record of acquisitions and its strategy has increased the scale of the division from annual revenues of £13m at inception to a current run rate in excess of £30m.

The Banks Long and Co acquisition will further strengthen the firm’s existing offering and footprint in Eastern England and South Yorkshire and follows the recent acquisitions of Mark Jenkinson and Co and Budworth Hardcastle. 

Anthony Spencer, director at Eddisons, said: “I am very pleased to welcome the Banks Long and Co team to Eddisons, which extends our footprint into Lincolnshire and enhances our existing presence in Eastern England and South Yorkshire. 

“The Banks Long and Co team are highly experienced with a proven track record in delivering high quality professional advice to public and private sector clients. We continue to seek further opportunities for expansion across the UK.”