Begbies Traynor swoops as rival goes under
BEGBIES Traynor, the national business recovery group, has snapped up troubled Yorkshire rival P&A Partnership in a pre-pack acquisition.
The Manchester company said it had bought the Sheffield-based firm, which traces its roots back to 1875, for a maximum of £860,000.
Begbies Traynor said it would be taking on 36 former P&A staff, including three former directors, who would work with its existing Yorkshire team of 47.
Ric Traynor, executive chairman of Begbies Traynor Group said: “The acquisition of P&A’s team and cases further enhances our position as the UK’s leading independent insolvency practice.
“In particular, its strong regional presence and team will position Begbies Traynor as the leading appointment taker in Yorkshire and will bring additional strength in asset based lender and creditor services. We are very pleased to welcome the team to the group.
“The group remains well placed to continue to take advantage of opportunities to develop and enhance the business both organically and through selective acquisitions.”
Corporate partners Caroline Litchfield and Robert Turner from North West law firm Brabners acted for Begbies Traynor on the deal.