LONDON: FRP Advisory Group announce the acquisition of the business and assets of Abbott Fielding Limited, a business recovery practice based in Sidcup, Kent.
The firm’s sole director, Nedim Ailyan (Ned) will join FRP as a Partner along with all staff, including 8 fee earners.
Geoff Rowley, FRP CEO said: “We are pleased to complete another acquisition that continues to selectively build our UK footprint. This deal gives us a Restructuring presence in the Kent region, with a team who share our values. We look forward to their contribution to FRP.”
Ned Ailyan, founder of Abbott Fielding, said: “We are delighted to be joining FRP and excited by the growth opportunities, to help and act for more local businesses and individual clients in the South East region and nationally.”
869,565 new ordinary shares are to be issued as part of the transaction with application to be made to trading on the AIM market of the London Stock Exchange. The new ordinary shares will rank pari passu with the existing ordinary shares. It is expected that Admission of the Shares will become effective and that dealings will commence at 8.00 a.m. on or around 2 October 2020. Following the issue of new ordinary shares the Company will have 239,558,637 ordinary shares in issue.
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.