TC Group merges with Fortus Midlands and East
Fortus, the business advisory and accountancy firm with offices in Leicester and Northampton, has sold its bases in the Midlands and East regions to private equity-backed business services firm TC Group.
Fortus Midlands and Fortus East will now trade as TC Group and will add six new offices to the group in Milton Keynes, Northampton, Peterborough, Leicester, Southampton, and Hertford.
TC Group is backed by Inflexion.
“TC Group is delighted to have joined forces with Fortus Midlands and Fortus East ” said TC COO Grant Bartholomew. “They are a trusted and highly respected firm of professionals who go above and beyond to give exceptional services to their clients – an ethos shared by TC Group. As a result, Fortus clients can expect a smooth transition and the continuance of the high-quality services they have come to expect as our two firms merge and move forward as one.”
Carly Liston, managing partner of the East region, said: “We’re delighted to be joining TC Group. It’s a great opportunity for us to share in the depth of knowledge, expertise and structure the group offers to both our clients and team. We have a shared vision for the quality of service we offer our clients , both in accounting and our extensive business-related service lines.”
Stephen Watts, managing partner of the Midlands, added: “We’re thrilled to announce our merger with TC Group at a time of significant growth and opportunity. With the support of TC Group’s strong national and international network, this merger allows local Partners to retain control to better serve our existing clients, expand opportunities for our fantastic people as well as support future M&A growth in some key strategic locations.”
The move will see existing Fortus executive director Craig Herbert take over at the helm as chief executive, with Andy Northern and Richard Burnett joining as executive director and chief marketing officer respectively. Chris Timms, Nathan Tinkler and Andy Minifie will all remain on the board as non-executive directors.
Herbert said: “This is a strategic move for all parties involved and I would like to thank the team in the Midlands and East for their positive contribution to Fortus’s success since our launch.
“Our northern operation continues to experience rapid growth as ambitious business owners look for expertise and services as they seize opportunities and navigate current challenges.
“Our market-leading approach, combining large firm advisory experience and service lines alongside a more personalised, consultancy led experience, all backed by deep sector and local market knowledge, is proving a powerful offer.
“We remain excited about the growth potential for Fortus and further expanding our geographical footprint across the North of England and Scotland through further strategic acquisitions – and by continuing to recruit the best talent in the industry.”
Alongside offices in York, Leeds, Scarborough, Leicester, Glasgow and London, Fortus recently launched a Wealth Management division headed by Dom Marley and opened an office in Manchester for its rapidly growing restructuring and recovery division, FTS Recovery.
Northern said: “It’s very much business as usual for our clients with this move also enabling us to offer an even better service to entrepreneurial and growth-focused businesses and their owners – the lifeblood of the northern economy.”
Burnett added: “Having supported thousands of business owners – from SMEs to large companies across every sector – to deliver on their ambitions, we have built a leading brand as proven expert advisors. We are excited about the next chapter in the Fortus story.”
