Numerica acquires key Chantrey Vellacott practice
Numerica has announced its acquisition of Chantrey Vellacott's Thames Valley business recovery practice.
The listed accounting firm said it had paid approximately £1.1m. About £500,000 of the consideration would be raised by the issue of new shares at 111p and the rest would be paid in cash.
The Chantrey Vellacott practice is run by Peter Hughes Holland, the firm’s national business recovery senior partner. The pro-forma turnover of the Thames Valley practice in the year to 30 June 2002, was approximately £1.1m and has three partners and 17 staff.
Numerica chief executive Tony Sarin said: ‘Business recovery is a very important part of Numerica’s offering. Peter Hughes Holland is well known in the business recovery community and both he and Numerica are at the leading edge of reshaping the rescue culture within the UK.’
With a 50% increase last year, Chantrey Velacott’s business recovery sector was the practice which grew the most in the Accountancy Age League table.