Begbies Traynor snaps up Nottingham property auction firm

Nottingham-based SDL Auctions has been bought by professional services firm Begbies Traynor in a deal worth up to £3.25m.

Property auction firm, SDL, which employs 46 staff, will integrate with Eddisons, Manchester-based Begbies’ property advisory and transactional services division.

In its financial year ended 31 March 2023, SDL generated revenue of £4.5m and pre-tax profits of £500,000. Trading is projected to remain at this level in the current financial year.

Anthony Spencer, managing director of Eddisons, 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.”

Ric Traynor, executive chairman of Begbies Traynor Group, 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.”