FRP expands offshore with Isle of Man acquisition
Listed advisory group FRP is to expand its offshore operation with the acquisition of GWC, an Isle of Man based insolvency specialist.
The firm’s owner, Gordon Wilson will join FRP as a Partner. The rest of the GWC team comprising eight colleagues will also join FRP.
The acquisition is FRP’s eighth since it floated in March 2020 and is designed to increase market share, broaden the service offering to clients and expand its geographical footprint.
Geoff Rowley, FRP CEO said the deal strengthens FRP’s offshore and international presence. “This follows the acquisition of APP in Cyprus in 2022 and supports our work with global advisory organisation Eight International, enabling us to better support our clients on international matters. Having worked with the team at GWC for several years, we know they share our values and are experts in their field, focusing on providing the highest quality service to their clients. I have no doubt they will make a positive contribution to the business as they continue to grow in the Isle of Man.”
Gordon Wilson of GWC, said: “We’re excited to be joining FRP. We have worked with the team for the last few years, and this cements what has been a fantastic working relationship. We are looking forward to growing and developing the business in the Isle of Man to make it the leading restructuring firm on the Island. This will enable us to continue to provide our existing and new clients with an industry-leading level of service, as well as access to FRP’s wider offering. The investment in our firm from FRP is a strong endorsement of the Isle of Man market and will create employment opportunities for exceptional talent across the island and beyond.”
Given the proximity to the Company’s 30 April 2024 year end, contributions from the GWC acquisition are not expected to alter market expectations for this financial year.
As a result of the deal, 444,445 new ordinary shares are to be issued.
Pictured: GWC team Kathleen McGhee, Martin Wilman and Yvonne Dermott-Weir; and Gordon Wilson, owner and Managing Director
