REG - FRP Advisory Grp PLC - Acquisition of One Advisory Group

Frp AdvisoryAnnouncement

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RNS Number : 1837I  FRP Advisory Group PLC  12 May 2025

12 May 2025

FRP ADVISORY GROUP PLC

("FRP", the "Group" or the "Company")

 

Acquisition of One Advisory Group

 

FRP Advisory Group plc, a leading national specialist business advisory firm,
is pleased to announce the acquisition of One Advisory Group* ("One Advisory")
for a consideration of £5.6 million, plus an additional amount for the net
assets acquired on completion of approximately £2.5 million (the
"Acquisition"). The total consideration for the acquisition is split between
cash of approximately £6.5 million and the issue of new ordinary shares with
a value of approximately £1.6 million.

 

One Advisory is based in the City of London and provides financial reporting
and transaction advisory, and governance services to more than 100 UK and
International clients, the majority of whom are listed on the London Stock
Exchange. The One Advisory team comprises 41 colleagues, all of whom will join
FRP, including the firm's three directors, Matt Wood, Laura Nuttall and
Michael Butler, who will join as Partners.

 

The acquisition is in line with FRP's strategy to generate sustainable
profitable growth by combining a focus on organic growth with acquisitions
that meet the Group's selective criteria. This approach enables the Group to
increase market share, broaden its service offering to clients and expand its
geographical footprint to drive growth. This acquisition broadens FRP's
transactional service offering and adds new governance advisory capabilities.
It is the Group's fourteenth since IPO in March 2020.

 

For the year to 31 March 2025, One Advisory's unaudited revenue was £4.7
million of which more than half was generated from retained clients, and
unaudited EBITDA was £1.1 million. On an annual basis going forward it is
expected that One Advisory's underlying incremental contribution to FRP will
be revenue of c. £4.9 million and adjusted(1) EBITDA of c. £1.1 million;
although within any financial year, there will be timing volatility depending
on when transactions complete.

 

Geoff Rowley, CEO of FRP Advisory, said: "This acquisition further strengthens
our national financial advisory business. One Advisory will continue to
provide governance advisory services under their existing brand and their
financial reporting and transaction advisory team will go to market as FRP.

 

We are pleased to welcome Matt, Laura, Michael and the team to FRP; they share
our values and I have no doubt will make a strong contribution, as we continue
to grow."

 

Matt Wood, founder of One Advisory, said: "We are delighted to be joining FRP
and are excited at the opportunities that being part of FRP presents for our
team and our clients. We are all immensely proud of what we have achieved as a
team at One Advisory and being part of FRP will be a solid platform to enable
us to offer a broader range of services to our clients.

We are confident that by building upon our shared values of quality and
professionalism with FRP, we will accelerate our growth."

1,224,333 new ordinary shares (the "Consideration Shares") are to be issued as
part of the Acquisition with application to be made to trading on the AIM
market of the London Stock Exchange ("Admission"). The Consideration Shares
will rank pari passu with the Company's existing ordinary shares. It is
expected that Admission of the Consideration Shares will become effective and
that dealings will commence at 8.00 a.m. on 15 May 2025. Following the issue
of the Consideration Shares, the Company will have 257,833,422 ordinary shares
in issue with each ordinary share carrying the right to one vote and no
ordinary shares held in treasury.  The above figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

*One Advisory Group comprises One Advisory Group Limited, One Advisory
Limited, and One Capital Limited.

(1) Adjusted to reflect Partner compensation under the future FRP model and
excluding exceptional costs and share based payment charges

 

Enquiries:

 

FRP Advisory Group plc
 

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

 

Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)

Katy Birkin / Stephen Keys / George Lawson (Corporate Finance)

Tel: +44 (0) 207 220 0500

 

Berenberg (Joint Broker)

Toby Flaux / James Thompson / Smruthya Ganeshram

+44 (0)20 3207 7800

 

MHP Group (Financial Public Relations)

Oliver Hughes

Eleni Menikou

Lexi Iles

Tel: +44 (0)7701 308 818

FRP@mhpgroup.com (mailto:FRP@mhpgroup.com)

 

Notes to Editors

FRP is a leading national specialist business advisory firm established in
2010. It offers a range of advisory services to companies, lenders, investors
and other stakeholders, as well as individuals. These services include:

§ Restructuring advisory: corporate financial advisory, formal insolvency
appointments, informal restructuring advisory, personal insolvency and general
advice to all stakeholders.

§ Corporate finance: mergers & acquisitions (M&A), strategic advisory
and valuations, financial due diligence, capital raising, special situations
M&A and partial exits.

§ Debt advisory: raising and refinancing debt, debt amendments and
extensions, restructuring debt, asset based lending and corporate and
leveraged debt advisory.

§ Forensic services: forensic investigations, compliance and risk advisory,
dispute services and forensic technology.

§ Financial advisory: transaction services including financial due diligence,
lender services, financial modelling, valuations, pensions, governance
advisory and company-side advisory services.

 

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