Mergers and acquisitions  

Frenkel Topping secures double acquisition for £9m

Frenkel Topping secures double acquisition for £9m

Frenkel Topping has secured two acquisitions worth a combined £9m as the advice firm doubles down on its growth efforts in the personal injury and clinical negligence markets. 

In an update to the market today (February 1) the company confirmed it had bought cost firms A & M Bacon Limited and Partners in Costs Limited. 

The deals will see Frenkel Topping pay £5m in cash upfront, further deferred payments of £3.1m over the next two years and the remaining payment through the issue of shares in its company. 

Richard Fraser, chief executive at Frenkel Topping, said: "The acquisitions fit exactly into our strategy of acquiring high-quality businesses in the personal injury and clinical negligence market and builds on the successful acquisition and integration of Forths last year .

"These acquisitions will further strengthen our offering and drive the continued growth of Frenkel Topping."

The move follows £13m raised by the advice firm last year to line its acquisition war chest, when it also bought Manchester and Leeds-based forensic accountancy business Forth Associates Limited.

Frenkel Topping said the acquisitions of A & M Bacon and Partners in Costs would support its strategy of offering financial advice to recipients of substantial personal injury and clinical negligence awards. 

Reuben Glynn and Teresa Aitken, respective chief executives of the purchased companies, will remain in their roles and as shareholders in Frenkel Topping. 

Last summer Frenkel Topping's IFA arm agreed a 50:50 joint venture with personal injury specialists Express Solicitors in a deal which allowed it to provide post-settlement advice to the firm's clients. 

It came as Mr Fraser said the business was reviewing a number of acquisition opportunities with an eye to growing its wealth management brand Obiter.