A Bristol chartered surveying business has been acquired by a major national property consultancy in a deal worth up to £1m.
Andrew Forbes Surveyors, which has operated since 1995 and provides commercial valuation and building consultancy services across the South West, has been taken over by Eddisons, part of the Begbies Traynor finance group. 
Andrew Forbes Surveyors’ 18-strong team will now integrate with Leeds-headquartered Eddisons, which has a network of 25 offices across the UK.
Eddisons managing director Anthony Spencer said: “Andrew Forbes Surveyors has an excellent regional reputation and I am really pleased to welcome their team to Eddisons.
“The acquisition complements our existing strength in valuations and I look forward to working with David and the team to seek opportunities for further growth.”
Begbies Traynor is paying an initial £500,000 for the acquisition with a further earn-out of up to £500,000 in cash subject to maintaining profits over the next three years.
The acquisition of Andrew Forbes Surveyors is the third of the year for Eddisons following its purchase of Sheffield-based auctioneer Mark Jenkinson and Lincoln property consultancy Banks Long & Co.
Eddisons now employs more than 400 people and is one of the UK’s fastest growing property consultancies.
Andrew Forbes Surveyors managing director David Chichester said: “Through our talented team of people, Andrew Forbes Surveyors has developed a market leading reputation for delivering quality property advice across the South West
“We are excited to be joining the Eddisons team as there is a natural overlap with the services we offer and an opportunity to work with like-minded individuals. This strengthens our proposition to clients and I look forward to developing the opportunities the deal presents.”
Begbies Traynor executive chairman Ric Traynor said: “The acquisition of Andrew Forbes is in line with our strategy to develop our property advisory and transactional services division, by increasing both its scale and market position, as well as the scope of its service offering and geographical coverage.
“The Andrew Forbes team is a longstanding and successful business, and we are looking forward to working with them.”
