Completion of the acquisition is conditional on the finalisation of property lease details, which Finsbury hopes to complete as soon as possible. The acquisition will save the jobs of 150 Scottish employees.
Iain Young, Corporate Partner at Morton Fraser said:
"We are delighted to have the opportunity to work alongside the highly rated FRP team on this particularly challenging assignment. The deal arose as a referral from our strong connections with London law firms and in recognition of Partner Bruce Wood's clear advice and vast experience in asset finance transactions. This is an important deal for the Morton Fraser restructuring and insolvency team, which has experienced an extremely busy start to 2015."