Asset valuation and disposal specialist swoops for plant and machinery division

RICS asset valuation & disposal firm, BPI Asset Advisory (BPI AA), has acquired the Plant & Machinery (P&M) Division of Leeds-based Michael Steel & Co to support ambitious growth plans.

As part of the deal, Mark Hodgson joins fellow BPI AA directors and valuers, Andy Cromack and Luke Hartshorn, further boosting the businesses valuation capacity.

Hodgson has extensive P&M valuation experience, spanning corporate and personal insolvency instructions, accrued over 35 years.

Michelle Gouldon also joins the BPI team increasing case management resource.

The acquisition enables BPI AA’s continued growth amongst regional and national advisory, lending and insolvency firms, without compromising its offering for independent firms.

Combined with BPI’s ability to provide a three to five week turnaround asset sale period, regardless of instruction size, the deal is designed to ensure continued swift delivery of results in line with client expectations.

Cromack said: ‘The P&M division of Michael Steel & Co is well known in the industry and we’re happy to have Mark on board.

“His depth of knowledge across asset values will contribute to the delivery of accurate and expedient RICS valuations the market knows BPI AA for.”

Hodgson said: ‘We built the P&M practice by putting client requirements first. The synergies with BPI AA’s approach to client relationships and prioritising delivery made the move a natural fit. Both Michelle and I are pleased to be part of BPI team.”

BPI group MD, David Boulton, added: “Valuation and sale turn-around times are pivotal to BPI’s offering. The acquisition delivers growth for the Asset Advisory division and allows us to continue to respond rapidly to the needs of our clients.”

Michael Steel & Co property division is not part of the deal. It remains a separate trading entity and is open for business as usual.