Baker Tilly UK Holdings reaches agreement to acquire the trading operations of RSM Tenon Group plc
Baker Tilly UK Holdings Ltd is pleased to announce that it has reached agreement to acquire the trading operations of RSM Tenon Group plc.
This transaction allows for the ongoing success of RSM’s Tenon’s profitable trading businesses, free from the burden of the group’s historic debt obligations, as part of an enlarged and financially strong Baker Tilly group. We believe that this is an excellent outcome for RSM Tenon’s clients and employees, allowing for enhanced service excellence and career development opportunities.
Financial backing for the acquisition has been provided by Lloyds TSB Bank plc, whose past financial support to RSM Tenon has been essential to safeguard the jobs of all those working for the business.
Although the parent company of the RSM Tenon group is now in administration, we have acquired the profitable trading subsidiaries as going concerns. They will continue to operate as normal providing high quality audit, accounting and other professional services to their many valued clients in both the public and private sectors around the UK and internationally.
Laurence Longe, Baker Tilly’s National Managing Partner, said,
“As a people business, the key asset of RSM Tenon has always been its highly skilled and professional workforce of partners and staff.
Baker Tilly and RSM Tenon are businesses of a comparable scale operating in similar markets across the UK and internationally, and so combining our strengths and skills will provide us with new opportunities for growth, as well as further strengthening and expanding our offering to the market.”