Grant Thornton has been handed a £5m credit line by RBS so that it can move quickly on acquisition targets.

RBS said in a statement: 'RBS together with Barclays, have provided the firm with a £5m acquisition finance line to support Grant Thornton UK's strategy of opportunistic but strategically aligned acquisitions to support their growth aspirations.'

Recently, the mid tier firm made a successful swoop for Debt Matters' Individual Voluntary Arrangements book.

Michael Hayman, Partner at Grant Thornton said: 'The accountancy and business advisory market remains active in the UK, and we want to be best placed to take advantage of opportunities as and when they present themselves. This acquisition line provides us with the flexibility to react quickly and purchase operations that provide synergies to the business and additional revenue streams.'

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