FRP paying up to £8.1m for One Advisory Group

One Advisory is based in the City and provides financial reporting and transaction advisory, and governance services to more than 100 UK and International clients, the majority of whom are listed on the London Stock Exchange.

The One Advisory team comprises 41 colleagues, all of whom will join FRP, including the firm’s three directors, Matt Wood, Laura Nuttall and Michael Butler, who will join as Partners.

The acquisition is in line with FRP’s strategy to generate sustainable profitable growth by combining a focus on organic growth with acquisitions that meet the group’s selective criteria. This approach enables the group to increase market share, broaden its service offering to clients and expand its geographical footprint to drive growth.

The acquisition broadens FRP’s transactional service offering and adds new governance advisory capabilities. It is the group’s 14th acquisition since IPO in March 2020.

For the year to March 31, One Advisory’s unaudited revenue was £4.7m of which more than half was generated from retained clients, and unaudited EBITDA was £1.1m. On an annual basis going forward it is expected that One Advisory’s underlying incremental contribution to FRP will be revenue of c. £4.9m and adjusted1 EBITDA of c. £1.1m; although within any financial year, there will be timing volatility depending on when transactions complete.

“This acquisition further strengthens our national financial advisory business. One Advisory will continue to provide governance advisory services under their existing brand and their financial reporting and transaction advisory team will go to market as FRP,” said FRP Advisory CEO Geoff Rowley.