Corporate recovery business snapped up by £100m turnover group
Professional services group, Xeinadin Group Limited, is acquiring the practice of Poppleton & Appleby Northern, which operates as a specialist corporate recovery firm from offices in Manchester and Huddersfield.
Poppleton & Appleby Northern has a team of nine specialists across its two offices.
The established firm has decades of experience in insolvency and recovery, providing professional advice to businesses, individuals, their advisors and funders to help them manage financially related problems and to future-proof their business.
Xeinadin is a group of business advisory and accountancy practices in over 100 locations across the UK and Ireland.
It has annual revenues of over £100m and provides more than 40 service lines to over 50,000 clients, predominantly small and medium sized businesses and their owner-managers.
It has already made a number of acquisitions this financial year. The growth of the group follows a significant minority investment from private equity firm Exponent earlier this year.
Derry Crowley, CEO, Xeinadin Group, said: “We are looking forward to having the Poppleton & Appleby team on board.
“They have an outstanding reputation for their work and will be a valuable asset to our growing corporate recovery team.
“We are seeing strong demand for our business recovery work which we expect to continue, so additional strength in this area is very welcome.”
Allan Cadman, partner at Poppleton & Appleby Northern, said: “We are proud to be joining the Xeinadin Group which is on an exciting growth trajectory.
“Being part of the group will greatly enhance our offering to existing clients and contacts, increasing the strength and depth of our operation.
“We will also be able to support the existing corporate recovery team at Xeinadin, providing additional expertise and bandwidth to a growing sector of the business.”