| CATEGORY: SMALL CAPS NEWS SECTOR: FINANCIAL SERVICES |
Invocas snaps up 7th insolvency practice |
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Wed 07 Jun 2006
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LONDON (SHARECAST) - Scotland-focused personal and corporate debt solutions provider Invocas was in the blue today after it announced the acquisition of insolvency practice Wilson & Co for around £140,000.
The purchase of the Edinburgh-based firm, owned by insolvency practitioner Derek Wilson, takes the full complement of insolvency practitioners now employed by Invocas to seven.
Wilson’s team specialise in providing protected trust deed case closure services to insolvency practices in Scotland.
“This acquisition brings in-house this specialist service. Invocas currently has over 3,300 live protected trust deed cases, all of which should require case closure services over the next three years,” it said.
In the year ended 31 March 2006 Wilson & Co reported turnover of £219,000 with a profit of some £133,000 before proprietor's remuneration.
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