Financial advisory firm Begbies Traynor has snapped up Midlands chartered surveyor Budworth Hardcastle in a deal worth up to £2.4m.
The Manchester-based restructuring specialist saw shares nudge higher after it confirmed the deal on Monday morning. Budworth Hardcastle will be integrated into the group’s property division, Eddisons, once the deal is completed.
Begbies Traynor said the acquisition of the firm, which provides valuation, commercial property agency and consultancy services, is part of Begbies’ strategy to increase its scale.
The acquisition will involve a £900,000 payment, and then a further £1.5m based on its financial performance on short and medium-term targets.