PracticeAccounting FirmsSmith & Williamson makes Numerica investment

Smith & Williamson makes Numerica investment

Troubled accountancy consolidator Numerica is again the centre of takeover speculation after it emerged that accountancy and financial services company Smith & Williamson has ploughed money into the group in return for a stake in the company.

Link: Sarin steps down at Numerica

S&W purchased a 9.84% stake, or 5.1m shares, in the AIM-listed accountancy group yesterday. The company has previously held abortive talks with BDO Stoy Hayward and RSM Robson Rhodes.

Numerica’s new chief executive Peter Jenkins said that the new investor had told him the stake was an investment. Jenkins took over from Tony Sarin earlier this month, who stepped down after the company revealed it would produce disappointing second-half figures

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