Begbies Traynor Group plc (AIM:BEG) acquired Daniells Harrison Surveyors Llp for £3.2 million on January 10, 2022. The consideration is on a cash free debt free basis, consists of Initial consideration of £1 million, payable £0.75 million in cash and through the issue of 186,651 new ordinary shares, contingent cash consideration of £1 million subject to maintaining financial performance in the four year period post completion. In addition, the acquisition includes a maximum cash earn out of £1.25 million subject to meeting growth targets over the five year period post completion. The initial consideration will be financed from Begbies Traynor Group's existing financial resources. For the year ended on March 31, 2021, Daniells Harrison Surveyors reported revenue of £2.1 million and net assets of £0.5 million. 27 staff of Daniells Harrison Surveyors will integrate with Eddisons, Begbies Traynor Group;s property advisory and transactional services division. Adam James and Patrick Dolaghan of Canaccord Genuity LLC acted as financial advisor to Begbies Traynor Group plc.
Begbies Traynor Group plc (AIM:BEG) completed the acquisition of Daniells Harrison Surveyors Llp on January 10, 2022.