FRP Advisory acquires Newcastle-based corporate finance business

Business advisory firm FRP Advisory Group said on Wednesday that it has acquired Newcastle-based corporate finance services outfit Williams Ali Corporate Finance for an undisclosed sum.

FRP said the acquisition of Williams Ali, which services clients both in the North East and nationwide, was in line with the company's strategy of generating "sustainable profitable growth" by combining a focus on organic growth with acquisitions that meet its selective criteria.

The AIM-listed group highlighted that the acquisition was its eleventh since its IPO in March 2020.

Chief executive Geoff Rowley said: "This acquisition complements FRP's existing strong presence in the North East in a target region for the expansion of our corporate finance offering."

As of 0955 BST, FRP Payments shares were down 1.05% at 148.42p.

Reporting by Iain Gilbert at Sharecast.com