Tenon has spent £10.4m purchasing insolvency and recovery services business,
As part of the deal,
Tenon acquired Unity
Business Services, Unity Debt Solutions, Unity IFA and Jackson Jolliffe Cork.
Unity has 11 partners and 110 employees, and is based mainly in the North
with principal Bolton, Wakefield, Hull, York and Middlesbrough.
Additional cash consideration – dependent upon the achievement of agreed
levels of financial performance – could reach approximately £13m.
‘This transaction is of major significance for Tenon,’ said chief executive
Andy Raynor. ‘It accelerates the strategy we have of increasing our existing
prominence in the recovery and insolvency market and enhances Tenon’s
penetration in the region.’
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children