Begbies Traynor has acquired chartered surveyor Eddisons Commercial in a £5m deal, with a further £3.5m in cash and shares to be paid over the next four years.
Eddisons is a national firm with a specialism in the valuation and disposal of property and business assets.
The company has offices in Leeds, Huddersfield, Bradford, and 31 staff based at King Street, Manchester. According to the deal, the firm will keep the same management team and brand, with no planned redundancies, office moves or closures.
As of the year end of 31 March 2014, Eddisons had a turnover of £13.4m and pre-tax profit of £1.3m. Begbies Traynor said the acquisition was in line with its strategy to enhance its insolvency practice through developing complementary service offerings, including valuation consulting.
Begbies Traynor will now use Eddisons' expertise on its existing caseload instead of hiring subcontractors.