The purchase price has not been disclosed.
All staff from the London, Manchester and Nottingham offices of Philip Davies will join Eddisons, increasing the headcount in its Machinery & Business Assets department to 27.
The acquisition means Eddisons will now have an auction centre in the Manchester area, servicing the Northwest & the Midlands, in addition to its existing facility covering Yorkshire and the Northeast which opened at the start of this year.
Eddisons managing director Nigel McDonald said: “This acquisition increases our geographical footprint and means we can now provide banks and insolvency practitioners with valuations and sales of assets, stock and properties on a truly national basis. It is also good news for clients of Philip Davies & Sons who will benefit from our significant range of specialist property services and exposure to an enhanced auction capability.”
Philip Davies managing director Peter Davies said: “I am really excited at the prospect of joining our two businesses together to provide a complete service to our combined client base. I look forward to working with the staff of both companies to make a real success of this acquisition.”