Begbies Traynor makes fourth acquisition this year
Begbies Traynor has bought Midlands-based finance broker MAF Property, marking its fourth acquisition of the year as the group continues to focus on growth.
The London-listed professional services firm will pay a maximum of £11.75m for MAF Property, with an initial cash payment of £3m, followed by the potential for an additional £8.75m subject to “delivering material growth” in profits over the four years after the transaction completes.
MAF is headquartered in the Midlands but operates nationally. It has a team of 46 employees, including two directors, who will all join Begbies Traynor.
The MAF team works with a large panel of banks and specialist funders to arrange finance products for clients looking to spend money to grow.
Begbies Traynor said MAF Property would complement its existing advisory and transactional services, and deepen its relationship with banks and other lenders.
The professional services firm is on something of an acquisition spree, having already agreed to buy three businesses in 2021, including insolvency practice David Rubin & Partners in a deal worth up to £25m.
Ric Traynor, executive chairman of Begbies Traynor, said: “The acquisition of MAF is in line with our growth strategy and complements our existing, and expands the range of, our service lines.
“MAF specialises in providing growth capital for investment and has developed excellent relationships with both clients and financial institutions over many years.
“As companies seek to bounce back from the pandemic, access to finance will be critical and going forward the MAF team will prove invaluable in increasing the support and advice we can provide to UK businesses.”