Dains takes over RSM Tenon’s Stoke operation

ACCOUNTANCY firm Dains has taken over the Stoke-on-Trent operation of fellow accountants RSM Tenon.

It has acquired the accountancy business and staff for an undisclosed amount.

The decision to pull out of Stoke will be seen as part of RSM Tenon’s cost-cutting measures.

At the start of this year the firm saw a drop in revenues and an increase in debts which led to its chief executive Andy Raynor departing.

Job losses and office closures were predicted as the firm tried to turn its fortunes around.

Following the Stoke deal, all of the accountancy, external audit and tax staff in RSM Tenon’s office there are transferring to Dains and the office will continue to be led by the existing team of Jon Dudley (corporate services), Ann Diggins (tax) and Andrew Bentley (commercial services), who will bring the total number of partners and directors at Dains to 20.

Spencer Wright, chief executive of Dains, said the firm had been been keen to extend its footprint to the Stoke- on-Trent area for some time.

“The profile of the office, its clients and staff is very similar to our other primary offices in Birmingham, Derby, Burton on Trent, Lichfield and Rugeley.

“I know that the team is looking forward to maintaining existing relationships and building our presence in the local market,” he said.

Jon Dudley said: “There is a real synergy between the team, clients and markets and we believe that the future looks very bright. 

Legal advisers to Dains on the transaction were Graham Muth and Nick Dawson of Cobbetts and Paul Roberts of Keelys.