Montpelier enters turnaround market with Armitage Jones purchase

Acquisitive accountancy firm Montpelier has announced a move into the turnaround market with the purchase of Armitage Jones.

Montpelier has set up Montpelier Business Reorganisation, which will incorporate the Yorkshire acquisition – managed by its partner Chris Jones, Tony Armitage and Simon Padgett.

The trio provides remedial advice at board level to struggling businesses. It has a team of eight staff and generated seven-figure levels of fee income in its first full year of operating.

The team will relocate to Montpelier’s existing Leeds office which will become the new company’s first UK location.

Montpelier founder Watkin Gittins said: “We have been looking for the right expertise to bring a business restructuring and reorganisation offering to our clients, and we have been impressed by the rapid growth of Armitage Jones into a formidable player in the market in less than two years.

“This move isn’t a plain turnaround or insolvency launch, it fulfils the demands for a new take on this market which is necessary due to the unprecedented economic changes arising from the banking crisis."

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