Home Business NewsBusinessBusiness Growth Begbies Traynor acquires insolvency firm for £21m
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Begbies Traynor acquires insolvency firm for £21m

by LLB Finance Reporter
18th Jan 21 3:42 pm

Begbies Taylor has spent almost £21m for CVT insolvency practitioner, adding to their first offshore offices.

The acquisition will add Begbies first overseas offices, as they will now gain access to CVR’s offshore sites in Gibraltar, Jersey, Cyprus and the British Virgin Islands.

In a statement to the London Stock Exchange on Monday, Begbies said that CVR have a significant insolvency practice with strong forensic accounting.

Ric Traynor, Begbies Traynor’s executive chairman said, “The acquisition of CVR is our largest insolvency acquisition to date and is expected to be immediately earnings-enhancing.

“The increase in scale and capabilities leaves the group well-positioned to increase its market share and continue to grow its business recovery and financial advisory revenues.”

Mark Fry, head of business recovery and advisory of Begbies Traynor, said, “The acquisition of CVR significantly increases the scale and specialisms of our business recovery and financial advisory business across London and the South of England, whilst enhancing our overseas capabilities.

“The CVR team has a similar style and culture to our own and will be a highly complementary fit with our business.

“We welcome the team into the group and look forward to working with them.”

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