Raymond Doherty 5 Dec 2017 09:49am

Begbies Traynor launches new advisory firm

Business recovery and property services group Begbies Traynor has launched BTG Advisory

The new firm practice will offer commercial, strategic and partner-led advice to companies, investors, lenders and other stakeholders, according to Begbies.

BTG Advisory will consolidate all of the group’s non-insolvency service offerings, including BTG Financial Consulting. It will serve clients in the UK and internationally.

It will use six UK offices - London, Manchester, Leeds, Glasgow, Birmingham and Bristol - and international assignments will be undertaken through BTG Advisory in the UK and its international alliance, BTG Global Advisory.

Mark Fry, head of Advisory at BTG Advisory, said the new firm will offer partner-led advice across the full range of professional services, from corporate finance and financial consulting to litigation support and expert forensic consulting, as well as restructuring and turnaround advice.

“As well as our established national network in the UK, we also have the capability to undertake significant international assignments through our global alliance, BTG Global Advisory, advising many leading banks, law firms, private equity and other funds, bankruptcy debtors, creditor committees and operating companies, across all continents and multiple offshore centres,” he added.

Last financial year, Begbies posted revenue to end April 2017 marginally down at £49.7m (2016 £50.1m) as a result of the ongoing historically low insolvency market.

The business also increased its operating margins to 20.3%, compared to 19.8% in 2016

Since the insolvency market hit the doldrums, the group has been pursuing a diversification strategy and has developed a property services division. In December 2014 it acquired Eddisons, a nationwide firm of property consultants, and a year later it added rugby-based business surveyors and valuers Taylors to the division. More recently, in June last year, it bought Pugh & Co, the property auction business. The division now contributes around 30% of revenue and profits.