Updated: 22nd February 2008
Begbies Traynor Group plc (""the Group") (AIM: BEG), the specialist professional services organisation, today announces the acquisition of CoyleClark LLP, a specialist tax investigation practice based in Altrincham, in the North West of England, and with an office in Northern Ireland.
The acquisition represents a further step in line with the Group's stated strategy to extend and diversify its professional services offering.
CoyleClark LLP was founded in 2002 by Leo Coyle and Alex Clarke, and operates in a wide range of areas from investigation work, forensics, and financial mediation through to prosecution defence. They also use their investigation background in writing reports as expert witnesses to assist legal contacts in defence of Confiscation Orders, be it a tax prosecution or any matter involving the Proceeds of Crime Act. Following the acquisition, Leo and Alex will become Partners in BTG Financial Partners.
The business will be integrated with the Group's existing tax consultancy, which is based in Manchester and which was established following the recent acquisitions of Shaw Tax and Stellar Financial Services. As a result of these acquisitions, together with organic growth, the Group now derives annualised fee income of over £5 million from tax consultancy services.
Ric Traynor, Executive Chairman, commented:
"The CoyleClark team extends the Group's penetration of the specialist tax consultancy market and broadens our service offering considerably. I am delighted that they have chosen to become a part of Begbies Traynor Group and we look forward to growing the business as part of the Group and to driving cross referral opportunities from our professional contact base."
Ric qualified with Arthur Andersen in 1984 and founded Begbies Traynor in 1989. Ric specialises in practice management and has considerable experience in financial turnaround and dispute resolution within professional practices.