REG - Begbies Traynor Grp - Acquisition

Begbies TraynorAnnouncement

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RNS Number : 9900I  Begbies Traynor Group PLC  26 November 2025

26 November 2025

Begbies Traynor Group plc

Acquisition

Expansion of Eddisons property advisory services

Begbies Traynor Group plc (the "group"), the financial and real estate
advisory firm, today announces that it has acquired Kirkby Diamond LLP and
Kirkby Diamond Property Management Ltd (trading collectively as "Kirkby
Diamond") for up to £8.25m in total. Kirkby Diamond will integrate with
Eddisons, the group's real estate advisory and transactional services
division.

Kirkby Diamond is a well-respected and successful regional real estate
consultancy with offices in Milton Keynes, Bedford, Luton, St Albans, and
Enfield, all of which are new locations for the combined business. The
business employs 62 staff, all of whom are joining the group. This acquisition
extends Eddisons' strategic footprint to cover the entire M1 corridor, and
aligns with our strategy to strengthen our service offering and expand our
market coverage.

In its financial year ended 31 January 2025, Kirkby Diamond generated revenue
of £6.2m and had normalised pre-tax profits of £1.1m (when reported on the
same basis as the group). Trading is projected to remain at this level in the
current financial year. At 31 January 2025, Kirkby Diamond had consolidated
net assets of £1.4m (including £0.95m net cash).

Reasons for and benefits of the acquisition

 

The group's overall strategy is to increase the scale and quality of its
businesses, both organically and through value-accretive acquisitions, thereby
delivering strong, sustainable financial performance.

 

Our strategy in property advisory services is to enhance and broaden our
service offerings and geographical coverage. Since the creation of the
division through the acquisition of Eddisons in December 2014, the group has
built a strong track record of acquisitions that have met these criteria. This
strategy has increased the scale of the division, which following this
acquisition will have an annualised run rate revenue in excess of £50m,
whilst demonstrating both resilience of earnings in a challenging economic
environment, and delivering strong growth and profitability.

 

The acquisition is in line with this strategy, enhancing our property advisory
offering, expanding our market coverage and enhancing the group's earnings.

 

Principal terms of the acquisition

The acquisition is for a maximum potential consideration of £8.25m on a cash
free and debt free basis.  The consideration is structured as follows:

·      Initial consideration of £5.0m (subject to any cash free/debt
free and working capital adjustments), to be satisfied as £3.5m in cash,
financed through the group's existing facilities, and through the issue of
1,327,434 new ordinary shares of 5 pence each in the group ("New Ordinary
Shares").

·      Earn out of up to £3.25m (payable in cash) subject to the
following conditions:

o  £1.5m subject to maintaining current financial performance in the first
three years post-acquisition; and

o  £1.75m subject to profit-enhancing financial performance conditions.

The cash consideration will be met from the group's existing financial
resources, with significant headroom available for further acquisitions and
investment.

Admission and total voting rights

Application has been made to the London Stock Exchange plc for the 1,327,434
New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission
of the New Ordinary Shares, which will rank pari passu in all respects with
the group's existing shares in issue, is expected to become effective on 1
December 2025.

Following Admission, the total number of shares in issue will be 161,092,471.
The group holds 163,806 shares in treasury and, therefore, the total number of
voting rights in the group, which excludes any shares held in treasury, is
160,928,665 and this figure may be used by shareholders as the denominator for
the calculation by which they will determine if they are required to notify
their interest in, or a change to their interest in the company.

Anthony Spencer, Managing Director of Eddisons, commented:

"I am delighted to welcome Luke and the team to Eddisons. The acquisition
significantly strengthens our geographical coverage and expertise,
consolidating our market position in key industrial locations. Kirkby Diamond
is a great fit with Eddisons, culturally and strategically, and I look forward
to taking forward the growth opportunities that the deal presents."

Luke Tillison, Managing Director of Kirkby Diamond, commented:

"Through the quality of our people Kirkby Diamond has built a reputation for
placing our clients' interests at the forefront of everything we do. We are
excited to be joining Eddisons and the opportunity to develop our offering on
a broader basis with like-minded colleagues."

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:

"Kirkby Diamond has excellent relationships with a broad range of clients and
a strong track record of growth and we very much look forward to working with
them as part of the group. The acquisition is in line with our strategy to
develop our property advisory and transactional services division by enhancing
and broadening our service offerings and geographical coverage. It takes the
division to an annualised revenue run rate in excess of £50m derived from a
wide range of property services and nationwide coverage."

Enquiries please contact:

Begbies Traynor Group plc
                               0161 837 1700

Ric Traynor - Executive Chairman

Mark Fry - CEO

Nick Taylor - CFO

 

Canaccord Genuity Limited
 
            020 7523 8350

(Nominated Adviser and Joint Broker)

Adam James / Harry Pardoe

 

Shore Capital
                                             020
7408 4090

(Joint Broker)

Mark Percy / James Thomas / Oliver Jackson

 

MHP
 
         07595 461 231

Reg Hoare / Katie Hunt  / Charles Hirst
                         begbies@mhpgroup.com
(mailto:begbies@mhpgroup.com)

 

Information on Begbies Traynor Group can be accessed via the group's website
at

ir.begbies-traynorgroup.com

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