Tue, 12 Dec 2023 | BUSINESS SALE
Begbies Traynor has continued its acquisitive growth strategy with a deal for property auctioneers SDL Auctions Ltd. The deal is worth up to £3.25 million, which represents a 6.5x multiple of SDL’s normalised pre-tax profits of £500,000 for the year ending March 31 2023, generated on revenue of £4.5 million.
SDL Auctions Ltd trades as SDL Property Auctions. Following the acquisition, the company will be integrated into Eddisons, Begbies’ advisory and transactional services division, with all 46 staff joining the company.
The deal broadens Eddisons footprint across the Midlands and provides further nationwide expertise and scale in auctions. The division was created in 2014 following Begbies’ acquisition of Eddisons and, since then, it has built a strong track record of acquisitions in property services, targeting deals that enhance and broaden both its geographical coverage and service offerings.
The acquisition comes amid a period of busy activity for Begbies Traynor, which has seen booming trade in its core business of insolvency services, amid widespread and growing financial distress among UK businesses.
Earlier this week, the company reported double digit profit and revenue growth and said that it intends to continue targeting organic and acquisitive growth opportunities. The listed firm added that it expects insolvencies to continue to increase in the UK.
Eddisons Managing Director Anthony Spencer said: "I am very pleased to welcome the SDL team to Eddisons. The acquisition significantly increases the scale of our auction business and I look forward to working with the team in the future.”
"This is the fourth acquisition for Eddisons in 2023 and we continue to seek further opportunities for expansion across the UK."
Begbies Traynor Group Executive Chairman Ric Traynor added: "The acquisition of SDL Property Auctions is in line with our strategy to develop our property advisory and transactional services division, by increasing both its scale and market position, as well as the scope of its service offering and geographical coverage.”
"Our combined team will be one of the largest property auctioneers by volume nationally. SDL has an excellent reputation, and we are looking forward to working with the team."
Find out more about Begbies Traynor's acquisitive growth plans
A concept which led to revolutionizing the restaurant industry, offering an efficient and profitable approach to food production and targeted marketing.
Their versatile offerings include custom rafted joinery products such as elegant doorsets, stylish TV and media units, functional desks, ingenious shelving and storage solutions, luxurious bed surrounds, stunning timber staircases, sophisticated engi...
As a specialist in Italian Motorcycle Parts and Accessories supplies, the business has developed expertise in sourcing and offering a comprehensive range of high-quality products.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
11
|
Dec
|
Begbies targets more acquisitions and expects insolvencies to rise further | BUSINESS NEWS
Professional services firm Begbies Traynor Group has said it...
08
|
Nov
|
Begbies Traynor acquires Bristol chartered surveyor at up to 4x profits | BUSINESS SALE
Financial services firm Begbies Traynor has acquired Bristol...
06
|
Sep
|
Begbies Traynor targeting deals amid rising insolvencies | BUSINESS SALE
Begbies Traynor, one of the UK’s largest insolvency pr...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.