Eddisons has announced the strengthening of its industrial auction and valuation team with the acquisition of auctioneer CJM Asset Management.
Based in Scunthorpe, CJM was established in 2000 following a management buyout by directors Charles Moses and Paul Cooper, though the firm traces its roots back to 1889. The firm employs 11 staff and disposes of plant and machinery assets, on site and via its innovative auction centre, for a range of national and international firms as well as local authorities and private clients.
CJM will be combined with the existing Eddisons machinery and business asset disposal team, operating as Eddisons CJM, creating one of the largest specialist asset auctioneers nationally.
Anthony Spencer, Partner at Eddisons, said: "I am very pleased to welcome the CJM team into Eddisons. The acquisition will enhance our machinery and business asset disposal expertise, complementing our existing operations. This is our third Eddisons acquisition since we joined the Group as we continue to seek opportunities for further growth, both organically and by strategic acquisition.”
Malcolm Good, National Head of Industrial Auctions for Eddisons, said: "Having known Charles and Paul for many years I am delighted they have joined Eddisons. Collectively our sales attract global interest and by combining the expertise of Eddisons and CJM, we reinforce our national capacity as well as expanding our capability to sell complex and high value assets internationally.”
Charles Moses, managing director of CJM, commented: “With increased demand from both domestic and overseas clients, we have been looking for a partner that would allow us to continue to develop and grow our industrial auction and valuation business. Eddisons is a perfect fit for us and we are all very excited about working with our new colleagues in the Eddisons CJM Team.”
"I am very pleased to welcome the CJM team into Eddisons. The acquisition will enhance our machinery and business asset disposal expertise, complementing our existing operations."
Richard joined Eddisons in 2003 and has been the Managing Partner since 2012, a role that sees him lead the strategic direction and development of the business under the ownership of Begbies Traynor Group plc. Richard has been instrumental in the growth of the business which has seen turnover more than double since 2008.
In addition to his role as Managing Partner, Richard continues to play a vital role with key clients, particularly in the banking sector, where he is a trusted adviser to major high street clearing banks. Over the last eight years, Richard has been appointed LPA Receiver on many high profile properties and assists in the recovery of distressed loan portfolios.
Prior to joining Eddisons, Richard worked in the real estate division of a 'Big Four' firm where his notable assignments included the privatisation of Saudi Telecom for flotation on the New York Stock Exchange.