Begbies Traynor adds Budworth Hardcastle to Eddisons wing
As the Eddisons subsidiary of Begbies Traynor continues to grow, the firm has sealed the acquisition of Budworth Hardcastle. The addition sees Eddisons add 18 staff to its East Midlands team.
Founded in 1992, Budworth Hardcastle is a firm of chartered surveyors, with offices in Northampton, Kettering and Peterborough. The firm’s teams provide valuation, commercial property agency and building consultancy services to a wide range of regional clients, which aligns with the group's current service offering and strengthens our regional presence.
At present, Budworth Hardcastle manages over 1,000 properties across its UK portfolio. According to its latest financial results this saw the firm generate unaudited revenues of £1.8 million, while it held net assets of £0.4 million.
This performance has attracted the interest of Eddisons, the property division of Begbies Traynor, as it sought to strengthen regional offices in Bury St Edmunds, Huntingdon, Northampton and Peterborough. Leeds-headquartered Eddisons has a network of 25 UK offices. The purchase of Budworth Hardcastle will see the firm’s 18 staff integrate with Eddisons across the East Midlands.
Anthony Spencer, Director at Eddisons, commented, "I am very pleased to welcome the Budworth Hardcastle team to Eddisons, which extends our footprint in Eastern England. They are a highly experienced team with a proven track record in delivering high quality professional advice. We continue to seek further opportunities for expansion across the UK."
Budworth Hardcastle Director Mark Budworth added, “We have built up an unrivalled presence in the region through the passion of our talented team of people. We are excited to be joining Eddisons, and realising the opportunities that this deal presents.
Eddisons is a professional services firm which specialises in property consulting and construction project management. It became a subsidiary of Begbies Traynor in December 2014, and since then the group has built a strong track record of acquisitions to strengthen its performance – while its parent group aims to diversify its offering.
This has increased the scale of Eddisons from annual revenue of £13 million at inception to run rate of £30 million, according to a release from the furth, together with strong and growing profitability.
Ric Traynor, Executive Chairman of Begbies Traynor Group, noted, "The acquisition of Budworth Hardcastle is in line with our strategy to develop our property advisory and transactional services division, by increasing both its scale and market position, as well as the scope of its service offering and geographical coverage. Budworth Hardcastle has excellent relationships with a broad range of clients which have been developed over many years and we are very much looking forward to working with them."
Begbies Traynor is best known for its business recovery services. However, as well as property management via Eddisons, the firm also offers financial advisory services to its clients across the UK.
