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.
A highly regarded firm operating for over a decade. Delivers an extensive range of bespoke quantity surveying and project management services, as well as employers agent, contract administration and fund monitoring solutions.
A reputable business successfully operating for five years with continued growth. Offers dedicated temporary and permanent recruitment services to key market sectors, including hotels, grounds maintenance and warehousing and distribution.
Prepares bills of quantities, cost plans, estimates and tenders for construction projects in a variety of sectors including residential, commercial, industrial and education.
East Lothian-based grain merchant Alexander Inglis & Son has...
Sign up to receive our acquisition alert emails to get your FREE guide
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