RSM Tenon buys part of Vantis

The firm, which has offices in Leeds, Hull, Harrogate and Doncaster, is acquiring three advisory offices in London, Leicester and Epsom, a Thames Valley business recovery practice and Vantis' financial management business.

The businesses generated revenues of 27m according to unaudited accounts for the year to April 30.

Some 300 staff will transfer to Tenon, which merged with Bentley Jennison in December,

Tenon said the deal will double the size of its operations in London and add to its coverage in the Thames Valley area.

The group will pay 5.7m in cash and a further 1.1m when payments owed to the acquisitions are paid by debtors. The integration of the new assets is expected to cost 3.6m.

AIM-listed Vantis, which has 16 offices throughout the country, went into administration earlier this week.