Frenkel Topping, the Saltford-based advice firm, has raised £13m to fund acquisitions. The fund was raised when Frenkel Topping took its shares to the market at 40p each, in what the advice firm said was an oversubscribed placing.
Frenkel Topping specialises in personal injury and clinical negligence and is seeking acquisitions in the same industry, in order to support the provision of a “full-service offering” for clients.
The funding comes in the wake of the purchase of Forths Associates, a Manchester and Leeds based forensic accountancy company.
Mr Fraser commented: “The net proceeds of the placing and the acquisition of Forths builds on our strong organic growth as we become the largest independent provider of financial expert witness reports to the claimant marketplace.
“We are delighted with the strong support shown by both new and existing investors and it is particularly pleasing to see high-quality institutional investors join our shareholder register.”
Frenkel Topping have undertaken a range of activities this year in order to grow their client base and assets under administration. Besides the placing and recent acquisition of Forths, the firm began a partnership with a law firm, and a joint venture with another advice firm to boost the coverage of their advice and DFM services. Frenkel Topping also plan to launch a client-facing app in order to support digital access to their services during lockdown.