Specialist consulting firm Begbies Traynor has acquired Daniells Harrison. The company is a chartered surveyor, which will help Begbies Traynor broaden its property services line.
Begbies Traynor is a UK based professional services firm, specialising in business recovery work. The firm has been diversifying beyond this core service line in recent years though – and now boasts a growing financial advisory wing, as well as a fast-developing property services consulting practice – both of which are provided nationally via a comprehensive network of UK locations.
Eddisons – Begbies Traynor’s property advisory and transactional services division – is a professional services firm which specialises in property consulting and construction project management. Since the creation of the division through the acquisition of Eddisons in December 2014, the group has built a strong track record of acquisitions that have met these criteria. This strategy has increased the scale of the division from annual revenue of £13 million at inception to a current run rate of £26 million, together with strong and growing profitability.
Last year, Eddisons was bolstered by the purchase of Hargreaves Newberry Gyngell by Begbies Traynor, and a similar move for Fernie Greaves Chartered Surveyors in 2021. Now, Begbies Traynor has secured another bolt-on, with a deal for Daniells Harrison.
Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented, “The acquisition of Daniells Harrison 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. Daniells Harrison has excellent relationships with a broad range of clients which have been developed over many years and we are very much looking forward to working with them.”
With offices in Fareham, the Isle of Wight, Bournemouth and Hailsham, Daniells Harrison is a firm of chartered surveyors employing 27 staff. In its financial year ended 31 March 2021, the firm generated revenue of £2.1 million before auditing, and normalised pre-tax profits of £0.4 million, while according to a recent release, trading has been maintained at these levels in the current financial year to date.
All of the Daniells Harrison team will now join Eddisons. This will help the brand extend its geographical coverage, which has broadened from its original northern base, to include London and Eastern England. The arrival of Daniells Harrison will enable Eddisons to cover the South Coast now as well.
Anthony Spencer, Director at Eddisons, commented, “I am very pleased to welcome the Daniells Harrison team to Eddisons, which extends our geographical coverage across the South Coast. They are a highly experienced team with a proven track record in delivering high quality professional advice. We continue to seek further opportunities for expansion across the UK.”
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