Tue, 12 Dec 2023 | BUSINESS SALE
Begbies Traynor has continued its acquisitive growth strategy with a deal for property auctioneers SDL Auctions Ltd. The deal is worth up to £3.25 million, which represents a 6.5x multiple of SDL’s normalised pre-tax profits of £500,000 for the year ending March 31 2023, generated on revenue of £4.5 million.
SDL Auctions Ltd trades as SDL Property Auctions. Following the acquisition, the company will be integrated into Eddisons, Begbies’ advisory and transactional services division, with all 46 staff joining the company.
The deal broadens Eddisons footprint across the Midlands and provides further nationwide expertise and scale in auctions. The division was created in 2014 following Begbies’ acquisition of Eddisons and, since then, it has built a strong track record of acquisitions in property services, targeting deals that enhance and broaden both its geographical coverage and service offerings.
The acquisition comes amid a period of busy activity for Begbies Traynor, which has seen booming trade in its core business of insolvency services, amid widespread and growing financial distress among UK businesses.
Earlier this week, the company reported double digit profit and revenue growth and said that it intends to continue targeting organic and acquisitive growth opportunities. The listed firm added that it expects insolvencies to continue to increase in the UK.
Eddisons Managing Director Anthony Spencer said: "I am very pleased to welcome the SDL team to Eddisons. The acquisition significantly increases the scale of our auction business and I look forward to working with the team in the future.”
"This is the fourth acquisition for Eddisons in 2023 and we continue to seek further opportunities for expansion across the UK."
Begbies Traynor Group Executive Chairman Ric Traynor added: "The acquisition of SDL Property Auctions 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.”
"Our combined team will be one of the largest property auctioneers by volume nationally. SDL has an excellent reputation, and we are looking forward to working with the team."
Find out more about Begbies Traynor's acquisitive growth plans
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
11
|
Dec
|
Begbies targets more acquisitions and expects insolvencies to rise further | BUSINESS NEWS
Professional services firm Begbies Traynor Group has said it...
08
|
Nov
|
Begbies Traynor acquires Bristol chartered surveyor at up to 4x profits | BUSINESS SALE
Financial services firm Begbies Traynor has acquired Bristol...
06
|
Sep
|
Begbies Traynor targeting deals amid rising insolvencies | BUSINESS SALE
Begbies Traynor, one of the UK’s largest insolvency pr...
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.