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Surveyors firm acquired

Eddisons, one of the North's leading firms of chartered surveyors, which was founded in Bradford in 1844, has been acquired in a management buy-out by two of its senior directors.

It has also expanded its operations nationally through an acquisition that has safeguarded around 200 jobs.

The firm, which has offices in Little Germany, Bradford, along with Leeds, Huddersfield and Manchester, has been bought by Nigel McDonald, managing director, and his fellow director, Richard Roe. They have acquired 100 per cent of the firm's share capital.

Mr McDonald ,51, has been with Eddisons throughout his career and Mr Roe ,41, joined five years ago from PricewaterhouseCoopers where he was responsible for property related insolvency and corporate restructuring.

The new owners say the move ensures that Eddisons, which employs more than 100 staff across its four offices, will retain its position as one of the region's leading independent chartered surveyors, while providing a platform for continued expansion.

Nigel McDonald said: 'The MBO is a significant step in the on-going development of Eddisons and will help us to deliver our ambitious future growth strategy."

Eddisons, has also saved around 200 jobs after buying the business and assets of Erinaceous Commercial Property Services Ltd and Erinaceous Commercial Services Ltd for an undisclosed sum.

The deal is expected to increase Eddison's annual turnover from £7m to £11m.

Eddisons has taken on the Erinaceous property management team, including the London landlord and tenant function, and the facilities management teams which operate in London, Bristol, Birmingham, Manchester and Glasgow.

The teams will adopt the Eddisons name and continue to operate from their existing premises.

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