Sunday, June 16, 2024

National business advisory firm acquires Sheffield business in £4.8m deal

FRP Advisory Group, a national specialist business advisory firm, has acquired Wilson Field Group for a consideration of £4.8 million.

This comprises cash of £3.1 million and the issue of new ordinary shares with a value of £1.7 million, plus a subsequent payment for the net assets acquired on completion.

The Wilson Field Group is based in Sheffield and comprises the operating businesses of Wilson Field Ltd and Wilson Field Financial Services Ltd, providing restructuring advisory and debt advisory services.

The business provides services to clients both locally and nationwide, supported by the Wilson Field website and operational platform, which FRP intends to retain within the Group. Two of the firm’s directors, Nick Wilson and Kelly Burton will join FRP as partners. The rest of the Wilson Field team will also join FRP, including 61 colleagues.

For the year to 31 August 2022, Wilson Field’s consolidated unaudited revenues were £5.3 million and unaudited reported EBITDA was £0.7 million. On an annual basis going forward it is expected that Wilson Field’s underlying incremental contribution to FRP will be revenue of £5.6 million and adjusted EBITDA of £1.1 million.

FRP’s strategy is to generate sustainable profitable growth by combining a focus on organic growth with acquisitions that meet the group’s selective criteria. This approach enables the group to increase market share, broaden the service offering to clients and expand the geographical footprint. The acquisition is the group’s seventh since IPO in March 2020.

Geoff Rowley, CEO of FRP Advisory, said: “Wilson Field is a great business that supports our growth strategy, with a highly complementary digital platform and on-the-ground presence in South Yorkshire.

“We expect to deepen referral relationships in Sheffield, with the team going to market locally as FRP. We are pleased to welcome Kelly, Nick and the team to the group and look forward to working together. They share our values and I have no doubt will make a strong contribution to FRP, as we continue to grow.”

Nick Wilson, founder of Wilson Field, said: “We’re excited to be joining FRP. The move will create opportunities and enable us to extend the range of services we can offer to our clients. We are culturally aligned and look forward to accelerating our growth as part of the FRP Advisory Group.”

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