Wed, 13 Sep 2023 | BUSINESS SALE
The Wilson Field Group, a Sheffield-based insolvency specialist, has been acquired by FRP Advisory Group in a deal valued at £4.8 million. The Wilson Field Group provides restructuring and debt advisory services to clients both in the local area and nationwide.
The company comprises two operating businesses: Wilson Field Ltd and Wilson Field Financial Services Ltd. The firm’s website and operational platform will be retained by FRP within the group upon the deal's completion.
The acquisition will see FRP Advisory pay a £3.1 million cash consideration, along with issuing new ordinary shares to the value of £1.7 million. There will also be a subsequent payment for the company’s net assets acquired on completion.
The disclosed value of the deal represents around a 6.8x multiple of Wilson Field’s unaudited reported EBITDA of £700,000 for the year to August 31 2022, generated on unaudited revenues of £5.3 million. The company will make an incremental contribution to FRP of £5.6 million in revenue and £1.1 million adjusted EBITDA.
FRP Advisory Chief Executive Geoff Rowley said: "Wilson Field is a great business that supports our growth strategy, with a highly complementary digital platform and on-the-ground presence in South Yorkshire. We expect to deepen referral relationships in Sheffield, with the team going to market locally as FRP.”
Wilson Field founder Nick Wilson said: “The move will create opportunities and enable us to extend the range of services we can offer to our clients. We are culturally aligned and look forward to accelerating our growth as part of the FRP Advisory Group."
The deal comes amid a booming period of activity for insolvency and restructuring practitioners, with their services in high demand as UK companies struggle with high levels of bad debt, inflation, rising costs and low consumer confidence. This has seen some insolvency practitioners turning to M&A activity in order to increase their reach and capitalise on rising demand.
Read about another recent acquisition by an insolvency practitioner
Find out more about insolvency trends in the UK
This is a unique opportunity to acquire a long established recruitment agency operating throughout the UK.
This well run practice with two offices is situated in South Wales. The practice undertakes a variety of work – all privately paid.
Long established practice, priding itself as a trusted law firm since 1994 and services over 1,000 client a year.
27
|
Sep
|
Potential buyers sought as Dundee glazing firm enters administration | ADMINISTRATION
Logie Glazing and Building Services, a Dundee-based construc...
27
|
Sep
|
TalkTalk poised to sell £150m B2B division as part of demerger | BUSINESS SALE
As part of its planned demerger, telecoms giant TalkTalk is ...
27
|
Sep
|
Manufacturer expands materials handling division with acquisition | BUSINESS SALE
Wakefield-based machinery manufacturer Group Rhodes has acqu...
07
|
Oct
|
Cleveland Bridge assets to go to auction next month | COMMERCIAL PROPERTY
It has been confirmed that an auction of the property and as...
10
|
Sep
|
Cleveland Bridge property and assets to head to auction as search for a buyer fails | ADMINISTRATION
Administrators for structural engineering firm Cleveland Bri...
08
|
Sep
|
Assets for sale as Scottish wind turbine firm enters administration | ADMINISTRATION
Scottish wind turbine manufacturer CS Wind (UK) has fallen i...
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.