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Begbies Traynor acquires Hargreaves Newberry Gyngell for up for £1 million
StockMarketWire.com
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Corporate restructuring company Begbies Traynor said it had acquired Hargreaves Newberry Gyngell for up for £1 million.
Hargreaves Newberry Gyngell provided commercial property management, agency and lease advisory services to a range of clients including private investors, property funds and commercial businesses.
Hargreaves Newberry Gyngell, a London based firm of chartered surveyors employing, would be integrated with Eddisons, the group's property advisory and transactional services division.
'The group's strategy is to increase the scale and quality of its businesses both organically and through value-accretive acquisitions, enabling increased shareholder value through the delivery of strong, sustainable financial performance,' the company said.
Under the terms of the agreement, the company paid £0.4 million and a earnout provision of up to £0.6 million following the achievement of stretching financial targets in the two years upon completion.
At 8:56am: (LON:BEG) Begbies Traynor Group PLC share price was 0p at 86p
Story provided by StockMarketWire.com
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