Redwoods acquired by Dipford Group
Business agents and valuers Redwoods has been acquired by AIM listed corporate broking specialists, Dipford group plc, in a deal worth more than Â£1.3 million. Dipford has agreed terms with Redwoods to acquire the assets and goodwill of the company, and to take over the existing management agreements of the 10 Redwoods regional offices. Dipford aims to expand the existing Redwoods business with the addition of up to 10 new regional offices. Dipford executive chairman Jonathan Baker said the acquisition of Redwoods meant Dipford had achieved its first major objective Â acting as a consolidator in the small to medium size business broking market Â only eight months after admission to the alternative investment market of the London Stock Exchange. “Redwoods is a major player in the business transfer market and provides us with the perfect platform on which to build a national network,” Mr Baker said. “We will consider further acquisitions as part of our determination to become the market leader in this sector.