Tenon has spent £10.4m purchasing insolvency and recovery services business, Unity.

As part of the deal, Tenon acquired Unity Business Services, Unity Debt Solutions, Unity IFA and Jackson Jolliffe Cork.

Unity has 11 partners and 110 employees, and is based mainly in the North with principal Bolton, Wakefield, Hull, York and Middlesbrough.

Additional cash consideration - dependent upon the achievement of agreed levels of financial performance - could reach approximately £13m.

'This transaction is of major significance for Tenon,' said chief executive Andy Raynor. 'It accelerates the strategy we have of increasing our existing prominence in the recovery and insolvency market and enhances Tenon’s penetration in the region.'

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