Business
Acquisition and Notice of Results
Acquisition and Notice of Results.
About this update from Frenkel Topping Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8197I\n Frenkel Topping Group PLC\n 17 August 2021\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n Frenkel Topping Group plc\n \n \n (\"Frenkel Topping\" or the \"Company\" or the \"Group\") \n \n \n Acquisition of Bidwell Henderson Costs Consultants Limited\n \n \n &\n \n \n Notice of Results \n \n \n \n \n \n Frenkel Topping Group (AIM: FEN), a specialist professional and financial services firm focused on asset protection for clients, is delighted to announce that it has acquired the entire issued share capital of Bidwell Henderson Costs Consultants Ltd (\"Bidwell Henderson\"), a leading legal costs consultancy, based in Derbyshire and Newcastle upon Tyne (the \"Acquisition\").\n \n \n \n \n \n The total maximum consideration for Bidwell Henderson is £1.48 million of which £0.74 million is payable on completion and the balance of which will fall due in two equal tranches of £0.37 million on the first and second anniversary post completion with an additional earn-out being payable in 2024 if certain targets are met. Further details on the financial terms of the Acquisition are set out below. \n \n \n Transaction Rationale\n \n \n \n \n \n The Acquisition is firmly in line with the Company's strategy to pursue quality opportunities in, and to drive consolidation of, the pre-settlement professional services marketplace in Personal Injury (PI) and Clinical Negligence. Bidwell Henderson has, over the last 7 years, built a leading legal aid costs agency in England and Wales. It holds a market leading position in drafting high-cost case plans which are required when significant costs are involved in large scale and complex legal cases. Bidwell Henderson covers specific areas of law such as complex public and private family, housing, judicial review, Court of Protection, abuse and clinical negligence cases. In addition, Bidwell Henderson challenges the traditional legal aid costs firm model and has built its success on developing ancillary services in legal aid processing, legal cashiering and costs training.\n \n \n \n \n \n As a result, Bidwell Henderson is highly integrated into law firms' back-office systems. So, while litigation is transactional, the business model depl...