Cavendish Corporate Finance, the UK’s leading mid-market M&A firm and part of the finnCap Group, has advised long-established recovery and insolvency firm David Rubin & Partners on its sale to Begbies Traynor Group for a maximum consideration of £25m.

Established over 35 years ago and with offices in London and Guernsey, David Rubin & Partners is a well-respected name in the recovery industry. It specialises in business turnarounds, corporate and personal insolvency and has a successful track record working across all sectors with clients of all sizes, from large organisations with international reach to SMEs and individuals. David Rubin & Partners is recognised for its high calibre and a full suite of services providing a one-stop-shop in the recovery market.

For Begbies Traynor Group, the acquisition is the largest the Group has undertaken to date, coming quickly after its acquisition of insolvency practitioners CVR Global. The deal delivers a significant increase in scale of its business recovery and financial advisory business, with a material increase in the Group’s size in the key London market.

The insolvency and recovery market is typically counter-cyclical, though volumes are steady even in prosperous times making the insolvency practitioner model highly robust. A complex regulatory and macroeconomic environment, coupled with the current pandemic, will be key demand drivers for advisory services in the sector.

Cavendish advised end-to-end on the deal and is further evidence of its strong Financial Services offering. The deal was led by its former Managing Partner and now Consultant, Joe Stelzer.

Joe Stelzer, Cavendish Corporate Finance, commented: “We are thrilled to have advised on this transaction. David Rubin & Partners is one of the most highly regarded names in the industry and is led by an experienced partner group that is committed to the future development of the business. We are confident they will work together well with the senior team at Begbies Traynor Group ”

Paul Appleton, Managing Partner at David Rubin & Partners said: “The Cavendish team led by Joe Stelzer and supported by Chirag Gohil did an outstanding job in identifying Begbies as a perfect home to drive our future growth. Cavendish negotiated an excellent deal and provided invaluable guidance to us through the process.”

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented: “This acquisition is our largest to date and is expected to be immediately earnings enhancing. It leaves the group well-positioned to increase its market share and continue to grow its business recovery and financial advisory revenues.”