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,
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.’