Tenon buys into top 10.

Tenon buys into top 10.

Accountancy-based business services company Tenon this week became a top ten firm after announcing four acquisitions worth #67.4m.

The deals increase its non-audit turnover to more than #80m and takes the group to number nine on the Accountancy Age Top 50 league table, forcing Baker Tilly down into 10th spot.

Tenon has acquired the non-audit business of the Independent Partnership – formerly BDO Stoy Hayward’s East Midlands office – for #30m, as well as Livingstone Guarantee in London, Southampton-based Dhand Hatchard Davies and the London-based Statham Gill Davies Partnership.

The firm has not ruled out further acquisitions and announced new bank facilities with Lloyds TSB to continue its acquisition programme. Chief executive Ian Buckley said: ‘With these latest acquisitions of high quality businesses we are poised to achieve our stated goal of annual turnover of more than #100m by the end of next year.’

– Tenon enters big league as it buys five firms www.accountancyage.com/ Practice/1125787.

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

Professional Services Why Professional Services Firms Should Ditch Folders and Embrace Metadata

6m

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

9m

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine

Accounting Firms Turn Accounts Payable into a value-engine

5m

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021

Making Tax Digital Digital Links: A guide to MTD in 2021

5m

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource