Tue, 02 Feb 2021 | BUSINESS SALE
Advisory firm Frenkel Topping has secured two acquisitions for a combined £9 million as it targets expansion in the professional negligence and personal injury markets. The two target firms are Doncaster-based A&M Bacon and Partners in Costs.
The deal will be structured with £5 million in cash up front, close to £1 million via the issue of 2,000,000 ordinary shares in its company and the remaining £3.1 million to be made in deferred payments over the next two years.
The company says the deal will support its strategy of providing financial advice to the recipients of substantial settlements for personal injury and clinical negligence.
The double acquisition comes after Frenkel Topping raised £13 million last year to bolster its acquisition drive. At that time, it also acquired North-West-based forensic accountancy firm Forth Associated Ltd.
A&M Bacon CEO Reuben Glynn and Partners in Cost CEO Teresa Aitken will both remain in their posts following the acquisition.
Frenkel Topping Chief Executive Richard Fraser commented: “The acquisitions fit exactly into our strategy of acquiring high-quality businesses in the personal injury and clinical negligence market and builds on the successful acquisition and integration of Forths last year.”
"These acquisitions will further strengthen our offering and drive the continued growth of Frenkel Topping."
In its latest financial accounts, to the year ending March 31 2020, A&M Bacon reported fixed assets totalling £122,916, current assets of slightly over £1 million and net assets of around £700,000.
Partners in Costs, meanwhile, in its accounts to the year ending April 30 2020, reported fixed assets of £62,102 and current assets of £3.1 million. Its net assets were valued at over £2.6 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
For more on M&A in the advice sector, check out our recent exclusive insight.
Opportunity to acquire a discretionary investment managing £45m of clients funds with recurring income of £500,000.
Opportunity to acquire an established IFA business circa £42m AUM located in Glasgow with room for further growth.
Newcastle based IFA offered for sale, the practice benefits from low ongoing advisor charge of 0.6% providing room for potential uplift maximising profits post acquisition.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
22
|
Apr
|
Frenkel Topping acquires legal services business | BUSINESS SALE
Specialist financial and professional services firm Frenkel ...
06
|
Jul
|
Frenkel Topping raises £10m to fund M&A strategy | BUSINESS NEWS
Independent financial adviser and asset management firm Fren...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.