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15 Jan 2008
Tenon has secured the purchase of Haines Watts Business Recovery, the AIM-listed accountancy firm announced today.
Tenon has said that it sees business recovery as a key area for growth. The Haines Watts deal will see Tenon enlarge its business recovery arm to a £35m turnover business making up a fifth of Tenon's total earnings.
The Haines Watts business includes offices in Birmingham, Worcester, Leeds and Southend, bringing further extension to Tenon’s geographical coverage, and in London and Manchester where there are additional commercial benefits expected from the merger with Tenon’s existing operations.
Tenon Chief Executive Andy Raynor said:
'This is solid growth for Tenon Group and its strong business recovery division. During 2007 we made successful acquisitions in this and other specialisms, which have comfortably met our expectations,' Tenon chief executive Andy Raynor said.
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Tenon Haines Watts takeover
But didn't Haines Watts have to go into administration with PWC first and then get sold as a pre-pack? Report the whole story please, not just the Tenon spin.
Posted by: CT, 16 Jan 2008 | 00:00