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Begbies Traynor in US joint venture

TIP UPDATE: Begbies Traynor teams up with Mesirow Financial Consulting of the US
October 8, 2009

What we said:

When: 7/08/09

Price: 105p

IC TIP: Buy at 107p

Now: Insolvency specialist Begbies Traynor is setting up a joint venture, BTG Mesirow Financial Consulting, with Mesirow Financial Consulting of the US to create one of the largest insolvency and restructuring practitioners in the world.

The move is a significant step up for Begbies Traynor as the group has been working for some time to raise its international profile. The business already has a network of support staff worldwide, operating through Begbies Global Network, but the joint venture will give the group access to a much bigger market, where Mesirow already supports some of the largest recovery and restructuring cases in the US. The joint venture will also provide support on corporate finance, forensic accounting and litigation support services.