Frenkel Topping Acquires A and M Bacon, Partners in Costs in UK.
MANews-(C)2009-2021
UK-based financial advisor and asset manager Frenkel Topping (AIM: FEN) has acquired the entire issued share capital of UK specialist cost firms A and M Bacon Ltd. and Partners in Costs Ltd. (through the purchase of its holding company and the purchase of shares directly in PIC), the company said.
A and M Bacon is a firm of civil and commercial litigation costs specialists and PIC is one of the UK's largest costs law specialists with costs lawyers and costs consultants.
The combined total maximum consideration is GBP 9m (USD 12.33m).
of which GBP 5m is payable in cash and GBP 0.9 m through the issue of 2m ordinary shares of 0.5p each in the company on completion and a further GBP 3.1 m deferred consideration is payable in cash in two tranches on 31 January 2022 and 31 January 2023.
The company said the acquisitions are in line with its strategy to pursue quality opportunities in, and to drive consolidation of, the pre-settlement professional services marketplace in personal injury and clinical negligence.
Both PIC and A and M Bacon are specialist cost firms.
In addition to certain cost synergies, the claimants these two companies provide services to, will naturally benefit from the additional services that Frenkel Topping offer, such as welfare benefits assessments, trust advice in conjunction with forensic accounting and expert witness services throughout the entire timespan of a claim.
Bringing PIC and A and M Bacon into the wider group will enhance the company's chances of winning the AUM mandate in the result of a successful claim.
This concurs with the group's...
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