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Begbies Traynor Group PLC on Wednesday announced the acquisition of Kirkby Diamond LLP and Kirkby Diamond Property Management Ltd, its second deal in as many days. The Manchester, England-based insolvency advisor said it will pay up to £8.3 million for Kirkby Diamond which will be integrated with Eddisons, the group’s real estate advisory and transactional services division. Estate agency Kirkby Diamond has offices in Milton Keynes, Bedford, Luton, St Albans, and Enfield, all of which are new locations for the combined business. ‘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,’ Begbies Traynor said. In its financial year ended January 31 2025, Kirkby Diamond generated revenue of £6.2 million and had normalised pre-tax profits of £1.1 million. Trading is projected to remain at this level in the current financial year. On completion, Begbies Traynor said the property advisory services division will have an annualised run rate revenue in excess of £50 million. Begbies Traynor will pay an initial £5.0 million to be met £3.5 million in cash, financed through existing facilities, and through the issue of around 1.3 million shares. A further earn out of up to £3.3 million is subject to maintaining current financial performance in the first three years post-acquisition and profit-enhancing financial performance conditions. ‘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,’ said Eddisons Managing Director Anthony Spencer. On Tuesday, Begbies Traynor announced Eddisons had paid £1.0 million cash for south east based property auctioneer Network Auctions. The deal will be funded from existing financial resources. ‘The addition of Network Auctions will add scale to our existing auctions business and further develop our national coverage in the south east of England,’ the firm said. Shares in Begbies Traynor rose 2.3% to 110.00 pence each in London on Wednesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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