LONDON: FRP Advisory Group plc, a leading UK professional services firm specialising in restructuring advice, has acquired JDC Group, a news release said.

Consideration compromises cash, founder deferred consideration and the issue of new ordinary shares for a total of £5.3 million plus a further payment contingent on the net assets of the JDC Group at completion of the transaction.

JDC Group is based in the Eastern region and comprises the operating businesses of JDC Corporate Finance and Walton Dodge Forensic. The JDC Group was founded in 2004 and is the leading specialist corporate finance and forensic services firm in the East of England. It is headquartered in Norwich with offices in Chelmsford and London.

The firm’s 4 Directors (Jon Dodge, Dave Howes, Chris Adlam and Fiona Hotston Moore) will join FRP as Partners along with all staff, including 10 further fee earners.

For the year to 31 March 2020, JDC Group unaudited revenues were £3.1 million and unaudited adjusted EBITDA was £1.2 million.

Geoff Rowley, FRP CEO said: “This deal gives us an immediate presence in the Eastern region and bolsters our Corporate Finance and Forensic Services offering. The team have earned themselves a great reputation and we are excited about the contributions they will make to FRP.”

Jeremy French, FRP COO, said:  “JDC Group and FRP have a shared ambition to be the advisory, corporate finance and forensic services business of choice for our referrers and clients alike and the acquisition of JDC Corporate Finance and Walton Dodge Forensic clearly re-states our commitment to growing these specialist areas within the FRP business, alongside our commitment to the growth of our wider business in the Eastern Region”.

Jon Dodge, founder of JDC, said: “We are delighted to have found in FRP a partnership that shares our core values of professionalism, commitment, integrity and tenacity and Dave, Chris, Fiona and I are all excited to be joining the firm as Partners. Our whole talented team are looking forward to further accelerating the growth of our core business streams within the Eastern Region and beyond, whilst at the same time extending the range of professional services that we offer.”

FRP is a professional services firm established in 2010 which offers a range of advisory services to companies, lenders, investors and other stakeholders, as well as individuals.

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