Baker Tilly completes RSM Tenon acquisition

ACCOUNTANCY group Baker Tilly has completed its acquisition of RSM Tenon after shareholders unanimously backed the plan.

The move will see the RSM Tenon name disappear but all its 2,300 partners and staff will be unaffected.

It has 35 offices around the country including Yorkshire.

The tie-up has created the seventh largest accountancy group after Grant Thornton in fifth and BDO, which recently merged with PKF in sixth. The top four places are held by PwC, Deloitte, KPMG and Ernst & Young.

Baker Tilly stepped in for RSM Tenon last month through a pre-packaged administration. The two had been in talks over a solvent sale but Baker Tilly pulled out and this led to RSM Tenon’s lender, Lloyds, withdrawing its support.

Laurence Longe, Baker Tilly’s national managing partner, said: “This merger is an excellent outcome for the clients, partners and staff of both firms. Bringing the professional skills, strengths and expertise of Baker Tilly and RSM Tenon together as one firm will significantly enhance our offering to the market and provide further opportunities for growth both nationally and internationally.”