BusinessBusiness RecoveryTenon spends up to £13m on Unity deal

Tenon spends up to £13m on Unity deal

Insolvency specialist Unity snapped up by Tenon for £10.4m; top performance could see the price rise to £13m

Tenon has spent £10.4m purchasing insolvency and recovery services business,
Unity.

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.’

Further reading:

Tenon appoints new head of tax

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor