FRP Advisory acquires Wilson Field to expand business advisory services

FRP Advisory Group plc has acquired Wilson Field Group for a total consideration of £4.8 million, which includes £3.1 million in cash and £1.7 million in new ordinary shares, along with a subsequent payment for net assets. Wilson Field is based in Sheffield and specializes in restructuring advisory and debt advisory services.

Details of the Acquisition

The acquisition of Wilson Field comprises the operating businesses of Wilson Field Ltd and Wilson Field Financial Services Ltd. Both firms have been providing advisory services to local and national clients. FRP Advisory Group plans to retain the Wilson Field operational platform and website within the Group. Two Directors from Wilson Field, Nick Wilson and Kelly Burton, will join FRP Advisory Group as Partners, along with a team of 61 colleagues.

Financial Impact and Strategy

For the fiscal year ending on August 31, 2022, Wilson Field reported unaudited revenues of £5.3 million and an EBITDA of £0.7 million. The acquisition is projected to contribute £5.6 million in revenue and £1.1 million in adjusted EBITDA to FRP Advisory Group on an annual basis going forward. This marks FRP Advisory Group’s seventh acquisition since its IPO in March 2020, in line with its strategy of sustainable profitable growth through carefully selected acquisitions.

Statements from Company Leaders

Geoff Rowley, CEO of FRP Advisory, said, “Wilson Field is a great business that supports our growth strategy, with a highly complementary digital platform and on-the-ground presence in South Yorkshire.” Nick Wilson, founder of Wilson Field, added, “We’re excited to be joining FRP. The move will create opportunities and enable us to extend the range of services we can offer to our clients.”

Future Projections for the Combined Entity

With the acquisition, FRP Advisory Group aims to strengthen its market share, broaden its service offerings, and expand its geographical footprint. The move is also expected to deepen referral relationships in Sheffield, as Wilson Field integrates its operations under the FRP brand.