The Manchester office of Clearwater Corporate Finance has advised corporate recovery specialist Begbies Traynor Group plc (‘AIM: BEG’) on the disposal of its tax division.
City-based accountancy firm Smith and Williamson has acquired the business for an initial consideration of £2.9 million. The deal was announced to the London Stock Exchange this morning, 28 November 2011.
Managing partner Mike Reeves led the deal team for Clearwater and was supported by manager Andy Strickland.
Mike Reeves said: “The sale of Begbies Traynor Group’s tax division will allow the Group to focus on its core restructuring business whilst offering an excellent opportunity for Smith and Williamson to increase its national reach.”