Eddisons has bought specialist valuations advisory firm Taylor Business Surveyors & Valuers from an initial sum of £1.1m.
Northampton-based Taylors, established in 1992, turned over £1.5m last year.
It employs 20 staff and specialises in trading business and commercial property valuations for banks.
The company’s Northamptonshire office will join Eddisons’ national network, which comprises 10 locations including London, Manchester, Glasgow, Birmingham and Leeds, where the firm is headquartered.
Eddisons director and head of valuation and banking services Anthony Spencer said: “With sector specialisms in areas such as hotels, education and healthcare, the Taylors team will fit well with Eddisons own broad range of expertise and boosts our valuation division to 30.
Taylors director Chris Mitchell added: “The value of loans being made on commercial properties increased by more than £15bn last year, the highest level of new lending since 2008. With economic forecasters predicting a continued rise in lending, now is the ideal time to join forces with a larger practice so that we are best placed to meet the increased demand for commercial valuation reports from lenders.”
As part of the acquisition, the management team of Taylors will remain with the business for at least five years.
