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Begbies Traynor acquires MAF Property
StockMarketWire.com
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Begbies Traynor said it had acquired MAF Property, which trades as MAF finance group, a Midlands-based finance broker, for up to £11.75 million.
MAF is a firm of finance brokers, operating nationally from the Midlands with a team of 46 employees, including two directors.
Under the terms of the deal, the company paid an initial £3 million and agreed to pay a potential earn out of up to £8.75m subject to MAF property delivering material growth in profits over the four years post completion.
The acquisition was in line with the 'strategy to increase the scale, quality and range of the group's services both organically and through value-accretive acquisitions,' the company said.
At 9:16am: (LON:BEG) Begbies Traynor Group PLC share price was 0p at 86p
Story provided by StockMarketWire.com
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