London-based insolvency firm ALJ joins Begbies Traynor

31 October 2019 2 min. read
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London-based insolvency and business recovery firm Alexander Lawson Jacobs (ALJ) has joined forces with larger counterpart Begbies Traynor.

The £2.35 million acquisition is – according to Ric Traynor, Executive Chairman of Begbies Traynor – in line with the firm’s strategy to increase the scale and market share of its restructuring practice. “Alexander Lawson Jacobs is an experienced team with a strong recent growth record, which will enhance our expertise and network of offices,” Traynor said.

Alexander Lawson Jacobs is one of the UK’s 20 largest insolvency firms (by insolvency appointments), reporting annual revenue of £3.1 million and pre-tax profits of £900,000 for its latest financial year. Originally founded in 1982 as Alexander Lawson & Co, the company has been operating as Alexander Lawson Jacobs since 2006, following its purchase of Jeffreys Henry Jacobs.

London-based insolvency firm ALJ joins Begbies Traynor

As part of the deal, 24 employees – including directors Ninos Koumettou and Yiannis Koumettou – join Bebgies Traynor across London and the South-East, one month after the firm bolstered its leadership in the region with four partner appointments. The Alexander Lawson Jacobs brand will be phased out. 

The announcement comes just weeks after Begbies Traynor acquired two other professional services firms: Leeds-based Ernest Wilson in a £4 million deal and Exeter-based firm restructuring advisory Regeneratus

Data from The Insolvency Service shows that total company insolvencies are on the rise in the UK. There were 4,355 total company insolvencies in Q3 2019, compared to 3,951 in Q4 2018. Similarly, administrations have reached their highest quarterly level since Q1 2014, continuing recent patterns of growth, while underlying creditors’ voluntary liquidations have also reached their highest quarterly rate since Q1 2012. 

Begbies Traynor is one of the companies benefitting from spiked demand for business recovery services. In its latest financial year, the financial advisor booked fees of £60.1 million, up 15% on the year previous.