A firm of chartered surveyors operating across South Yorkshire has been acquired by national professional services outfit Begbies Traynor Group.
Begbies will pay £400,000 for Mark Jenkinson & Son which specialises in auctioneering, making it part of its Eddisons property business. The move marks an expansion of Eddisons' operations in Sheffield, where the firm is based.
It follows Eddisons' October 2021 acquisition of another Sheffield surveying firm, Fernie Greaves, which bolstered its offering of agency, valuation, property management, lease advisory and building consultancy. In an update to investors, Begbies said the Mark Jenkinson business generates annual fee income of about £1m - all of which will be integrated into the Eddisons' team.
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Anthony Spencer, managing partner at Eddisons, said: "The acquisition of the Mark Jenkinson & Son business will enhance our existing property auction team and grow our successful team in Sheffield and South Yorkshire. I am very pleased to welcome the team to Eddisons and to the wider Begbies Traynor Group."
In a recent third quarter trading update, Begbies Traynor Group said it had been boosted financially by the ongoing administration of Paperchase, which its restructuring team is handling. The firm said it was encouraged by the level of appointments across this division and pointed to forecasted revenue of between £117.7m-£121.4m and adjusted pre-tax profit of between £19.7m-£20.6m.
Within the update to investors, Ric Traynor, executive chairman of Begbies Traynor Group plc, said: "We have continued to perform well across the group and our outlook for the full year remains unchanged. This will extend our strong financial track record of growth, through a combination of organic and acquisitive investment."
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