Tenon snaps up Haines Watts Business Recovery

Tenon has secured the purchase of Haines Watts Business Recovery, the
AIM-listed accountancy firm announced today.

Tenon has said that it sees business recovery as a key area for growth. The
Haines Watts deal will see Tenon enlarge its business recovery arm to a £35m
turnover business making up a fifth of Tenon’s total earnings.

The Haines Watts business includes offices in Birmingham, Worcester, Leeds
and Southend, bringing further extension to Tenon’s geographical coverage, and
in London and Manchester where there are additional commercial benefits expected
from the merger with Tenon’s existing operations.

Tenon Chief Executive Andy Raynor said:

‘This is solid growth for Tenon Group and its strong business recovery
division. During 2007 we made successful acquisitions in this and other
specialisms, which have comfortably met our expectations,’ Tenon chief executive
Andy Raynor said.

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Tenon’s share price

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