- Begbies Traynor's acquisition of Eddisons Commercial (Holdings) has completed and is now unconditional in all respects.

As previously announced, the board considers that the acquisition is in line with the group's strategy to enhance its market-leading insolvency practice through developing complementary service offerings, including valuation consulting.

Eddisons, which was founded in 1844, is a leading UK firm of chartered surveyors, offering a wide range of specialist services to banks, insolvency practitioners, and owners and occupiers of commercial property. The core services offered are valuation and disposal of property including fixed charge property receiverships; valuation and disposal of machinery and business assets; auctions; insolvency insurance brokerage; property and facilities management; and building consultancy and ratings valuations.

Begbies executive chairman Ric Traynor said: "We are delighted to have completed the earnings enhancing acquisition of Eddisons today. The acquisition enables the Group to utilise Eddisons' expertise in the valuation and disposal of property and business assets on its existing caseload and to market the Group's enhanced competencies and service offerings to its combined client base, including banks and other financial institutions. We look forward to supporting Eddisons in the next stage of its development as part of the enlarged group."

At 8:13am: [LON:BEG] Begbies Traynor Group PLC share price was -0.13p at 43.5p

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