|Master Investor Magazine
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AIM-listed corporate restructuring specialist Begbies Traynor (LON:BEG) has seen its share price rise by 3.90% to 88.32p (as of 13:50 BST) after it announced the acquisition of a London-based insolvency and business recovery practice. The company will pay an initial consideration of £2.1 million for Alexander Lawson Jacobs with a potential £4 million contingent on meeting financial targets.
CEO Ric Traynor commented: “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“.