Begbies Traynor Group sells its tax division to Smith and Williamson

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Clearwater Advisor

Press Release

The Manchester office of Clearwater International 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.

“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.”

Michael Reeves, CEO, Clearwater International