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K3 Capital Group PLC - Bolton, England-based professional advisory services firm, focused on M&A, tax and restructuring - Buys Chamberlain & Co for an initial £3.3 million in cash with more deferred consideration of up to £1.1 million. Says the acquisition is expected to be immediately earnings-enhancing.
Chamberlain & Co is a restructuring and insolvency practice based in Leeds, England. For financial 2022 ended April 30, it reported revenue of about £1.6 million.
K3 Chief Executive Officer John Rigby says: ‘This acquisition furthers our strategic objective of enhancing the group's strong organic growth with the addition of complementary SME focused advisory businesses. This is another example of bringing together businesses which can benefit from the group's unique distribution platforms, incorporating direct marketing, cross-selling opportunities and an ever-expanding professional introducers' network, to drive growth through economic cycles.’
Current stock price: 259.89 pence, up 0.9% on Tuesday morning in London
12-month change: down 25%
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