Begbies Traynor Group PLC to Discuss Acquisition of David Rubin & Partners Ltd Call Transcript
Welcome. Thank you for joining us. I'm Ric Traynor, Executive Chairman of Begbies Traynor. And I'm joined by Nick Taylor, the Financial Director of Begbies Traynor. We're here to introduce to you the acquisition of David Rubin & Partners and the associated fundraising. This represents a further significant expansion of the group's scale in business recovery and financial advisory.
There is the usual disclaimer, which I suggest that you read in due course. Turning to the next page, you will see the highlights of both the acquisition and fundraise. David Rubin & Partners, also named as DRP, is an insolvency practice with offices in London and Guernsey, is expected to be immediately earnings enhancing, and is in line with our strategy to target for value-accretive acquisitions.
It delivers significant increase in scale of our recovery and advisory business. There is a maximum consideration for acquiring the business of GBP25 million on a cash-free debt-free basis with normalized working capital.
The fundraising is
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