FRP Advisory Group PLC (AIM:FRP) has acquired Newcastle-based Williams Ali CF Limited, which offers corporate finance services across the UK.
As part of the deal, Williams Ali’s founders, Abu Ali and Phil Williams, will join FRP as partners.
It marks the business advisory group’s eleventh purchase since its IPO in March 2020, helping the firm expand its services and increase market share.
The vendors will receive 331,126 FRP shares worth just under £490,000 at current prices.
Geoff Rowley, FRP's CEO, 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.
"We are pleased to welcome Abu, Phil and the team, which will now go to market locally as FRP Corporate Finance, to the business. Our new colleagues share our values and ambitions, and will no doubt make a strong contribution as we continue to grow."