Begbies Traynor buys Midlands-based finance broker MAF

In its fourth deal in 2021, Begbies Traynor has acquired MAF. The Midlands-based finance broker particularly strengthens Begbies Traynor’s capacity for debt advisory.

Restructuring specialist Begbies Traynor has enjoyed a busy start to 2021, making four acquisitions to its portfolio since January. By March, the consultancy had added Birmingham restructuring firm CVR Global, London based chartered surveyor Hargreaves Newberry Gyngell, and Finchley based insolvency advisory David Rubin & Partners to its ranks.

Now, as Begbies Traynor looks to continue its expansion campaign, the company has added almost 50 professionals to its headcount with the purchase of MAF for an initial consideration of £3 million. The Midlands based finance broker sees Begbies Traynor look to further grow its range of services, with the company having overseen a concerted diversification campaign in recent times.

Ric Traynor, Executive Chairman of Begbies Traynor Group, 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.”

MAF has sector expertise in construction, engineering and manufacturing, haulage, healthcare, agriculture, renewables, property finance, fleet management and vehicle leasing.

The firm has grown rapidly in recent years, after investing in organic growth through the recruitment of experienced employees and broadening its product and sector expertise. In its financial year ended December 2020, MAF reported revenue of £3.1 million and normalised pre-tax profits of £0.3 million.

Finance broking complements Begbies Traynor’s existing advisory and transactional services, particularly debt advisory and restructuring, as well as the valuation and sale of assets. It will also help deepen the group’s existing relationships with banks and other lenders.

Meanwhile, MAF’s team will be able to accelerate its own growth by marketing its services through Begbies Traynor’s existing, extensive referral network of accountants and other professionals to their clients, and directly on the group’s client assignments. As a result, the deal is expected to immediately enhance earnings.