Frenkel Topping Group Plc (AIM:FEN) acquired Northwest Law Services Limited from Lee Evans and Phil Roberts for £2.75 million on April, 22, 2024. Frenkel Topping has agreed to pay a total cash consideration of £2.75 million split as follows: An initial cash consideration of £1.65 million subject to adjustment; A further cash payment of £0.55 million on the first anniversary of completion A final payment of £0.55 million on the second anniversary of completion. For the year to August 2023, NWL recorded revenue of £1.6 million and PBT of £0.465 million and had net assets of £1.0 million as at that date. The Acquisition has been funded utilizing part of the recently announced £7.5 million revolving credit facility (RCF) with Santander. The sellers, Lee Evans and Phil Roberts, intend to step back from the company over time and, following a managed handover, NWL will become part of the Group's Costs operating segment led by Rebecca Bidwell, Director of Strategy and Implementation. Carl Holmes, Abigail Kelly, FergusSullivan from Cavendish Capital Markets Limited acted as financial advisors to Frenkel Topping Group Plc (AIM:FEN).

Frenkel Topping Group Plc (AIM:FEN) completed the acquisition of Northwest Law Services Limited from Lee Evans and Phil Roberts on April, 22, 2024.