Begbies, which has four offices across Scotland, has acquired the corporate and sequestration cases for an undisclosed sum and will now take on a small number of management and administration staff from Invocas.
This deal allows Invocas to focus on its core trust deed and individual voluntary arrangement (IVA) business and continue to expand its insolvency services platform business.
Ken Pattullo, group managing partner in Scotland for Begbies, said: “Like many sectors, we are seeing continuing tough trading conditions, but the deal to bring the Invocas corporate portfolio into our group underlines our ongoing commitment to growing our presence and expertise in Scotland.
“We are continually looking to expand our business and this portfolio acquisition came as a part of our ongoing drive to continue to grow our share of the insolvency market in Scotland.”
The portfolio being acquired includes a variety of cases including administrations, sequestrations, bankruptcies, receiverships, liquidations and partnership voluntary arrangements.
Begbies’ insolvency teams in Edinburgh, Glasgow, Aberdeen and Dundee will pick up work on the cases immediately.
Pattullo added: “We have a very strong track record handling exactly the types of insolvency cases that we have acquired from Invocas.
“We are also bringing on board some very experienced personnel who have been working on these cases and will assist with delivering a seamless transition for anyone involved in them.”