Begbies Traynor Group plc said on Monday it is changing its name to BTG Consulting plc in a move designed to align the group's public identity with the broader advisory remit it has developed over recent years.
The group, which historically built its reputation in insolvency and restructuring, has evolved into a wider financial and real estate advisory business. Management highlighted compound annual growth rates of 13% in revenue, 20% in adjusted profit before tax and 8% in dividends as markers of that evolution.
Under the new operating and marketing approach, the company will present its services across eight discrete lines: restructuring; deal advisory; funding and insurance; financial advisory; valuations and asset advisory; agency and auctions; projects and developments; and property management and insurance. The company will continue to publish results across two operating divisions - Restructuring and advisory, and Real estate.
The firm will retain BTG Begbies Traynor as a sub-brand to be used for formal insolvency appointments, and will keep BTG Eddisons as the label for its real estate advisory unit, ensuring continuity of the names associated with those market-leading positions.
Administratively, the company has applied to Companies House to formalise the name change and has said it will update its TIDM code to "BTG" once approval is granted. The group's website address will change to www.btguk.com.
Mark Fry, chief executive, commented on the change: "This change reflects the evolution of the Group in recent years into a broad-based advisory business." He added that the rebrand is intended to help the group leverage its expertise to "enhance, protect and realise the value of our clients’ businesses, assets and investments."
Below are key takeaways and considerations related to the rebranding and structural update.