PracticeAccounting FirmsVantis makes £4m non-audit acquisition

Vantis makes £4m non-audit acquisition

AIM-listed accountancy group Vantis has agreed to acquire the non-audit business of Wheawill & Sudworth London for up to £4.25m.

Link: Vantis builds non-audit business

Vantis will pay £1.436m in cash on completion of the deal, with the balance mostly deferred over the two years to September 2005 and dependent on performance.

W&S is a seven-partner firm based in London and Vantis said it would bring ‘complementary strengths in forensic accounting, particularly expert witness and litigation, the IT and restaurant/catering sectors, together with expertise in accountancy outsourcing, business and taxation services’.

W&S’s non-audit turnover is estimated at about £2.5m a year.

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