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.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...View resource
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
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
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
The Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...View article
Anna Bennett, head of operations and finance at haysmacintyre discusses the firm’s work on D&I within recruitment and why it is important to have a wo...View article
Practice Ignition speak with David Lushington, owner of the TaxAssist Accountants Oxford franchise, to learn all about why his practice switched payme...View article
Organisations that have automated their processes will have a competitive advantage ahead of UK SOX style regime Read More...View article
UK mortgage lending hit record levels in March but the housing market frenzy is expected to ease as government incentive scheme draws to a close Read ...View article
Redundancies could have dangerous knock-on effects Read More...View article
Improving the quality of information on Companies House can’t happen soon enough, says John Edwards, CEO, Institute of Financial Accountants Read More...View article