Vantis, the AIM-listed accountancy group, today announced that it expects to
pay £4.76m to acquire the non-audit business of south Buckinghamshire practice
Vantis has enjoyed a successful run of buying up small practices and
consolidating them into its portfolio. Rouse, a six-partner general practice, is
the latest purchase by Vantis. In its last set of accounts, Rouse’s non-audit
function generated turnover of £3.6m and profits per partner of £752,000.
Vantis estimates that the acquired non-audit turnover amounts to
approximately £3.2m, from which Vantis expects a continuing pre-tax contribution
on an annualised basis of approximately £910,000, after accounting for
remuneration charges for the continuing partners of Rouse and taking in some of
the synergy savings arising from the acquisition.
Vantis plans to pay £4.76m for Rouse, a figure which could increase to a
maximum of £5.56m by the time the deal is fully completed.
Paul Jackson, Vantis chief executive, said he was delighted to add Rouse to
the Vantis portfolio.
‘Rouse is a successful and established accounting and business advisory
services firm. They bring business opportunities and an experienced, motivated
team to Vantis allowing us to extend our geographical reach.
‘Rouse will continue to operate from their existing premises in Beaconsfield
and will be an integral part of the group’s development in the Thames Valley,’
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting