BPI Asset Advisory (BPI AA), a company specialising in asset valuation and disposal, has expanded its operations by acquiring the plant and machinery division of Michael Steel & Co.

This deal, the financial details of which have not been revealed, is part of BPI AA’s growth initiatives.

The acquisition sees Mark Hodgson, an expert with more than three decades of experience in plant and machinery valuation, joining the BPI AA team.

He will work alongside directors and valuers Andy Cromack and Luke Hartshorn, further bolstering the company’s valuation capabilities.

Additionally, Michelle Gouldon has been brought on board to augment the company’s case management resources.

BPI AA anticipates that this expansion will support its continued development among regional and national advisory, lending, and insolvency firms, while maintaining its service to independent entities.

Cromack said: “The P&M division of Michael Steel & Co is well known in the industry and we’re delighted to have Mark on board.  His depth of knowledge across asset values will contribute to the delivery of accurate and expedient RICS valuations the market knows BPI AA for.”

However, Michael Steel & Co’s property division is not included in this transaction. It will continue to operate independently and remain open for business as usual.

Hodgson said: “We built the P&M practice by putting client requirements first.  The synergies with BPI AA’s approach to client relationships and prioritising delivery made the move a natural fit. Both Michelle and I are delighted to be part of the BPI team.” 

BPI Group MD David Boulton says: “Valuation and sale turn-around times are pivotal to BPI’s offering. The acquisition delivers growth for the asset advisory division and allows us to continue to respond rapidly to the needs of our clients.”