Begbies acquires a North Staffs rival
Corporate recovery specialist Begbies Traynor Group, which has an office in Stoke, has acquired a locally-based rival for an undisclosed sum.
Walletts Insolvency Services, based in Hanley, specialises in corporate recovery and insolvency services for local and regional small or medium sized businesses and also personal insolvency work for individuals. It was part of the Walletts accountancy firm, which continues as an independent organisation.
Following the acquisition, its eight staff will join Begbies’ Stoke office at in the New Year. The acquisition follows the death last year of Walletts' insolvency practitioner Mike McCarthy.
Begbies Traynor partner Bob Young said: "Mike McCarthy was a friend as well as a fellow professional and it will be an honour for us to maintain and develop the good name he built for his firm.
"Walletts' reputation, expertise and client base fit perfectly with our ambitions for the group."
Last week, Begbies Traynor Group also acquired Hamiltons, a Sheffield based firm of business recovery and insolvency practitioners.
