Wed, 19 Jul 2023 | BUSINESS SALE
Business advisory and chartered accountancy firm Fortus has sold off its divisions in the Midlands and East of England in order to focus on growth elsewhere in the UK. The company has sold Fortus Midlands and Fortus East, which comprise six offices in Milton Keynes, Northampton, Peterborough, Leicester, Southampton and Hertford, to TC Group.
The company says the sale will enable it to focus on driving “exponential growth” in the North and Scotland, as it continues to seek growth opportunities, including strategic acquisitions. Over the past three years, organic and acquisitive growth has enabled Fortus to achieve significant expansion.
In 2020, its headcount stood at 20 people, a number which is expected to be more than 100-strong by the end of this year. The firm has also recently launched a Wealth Management operation and opened a Manchester office for restructuring and recovery division FTS Recovery.
The company has also announced changes at executive level, with current Executive Director Craig Herbert becoming the firm’s new Chief Executive. Andy Northern and Richard Burnett have been announced as Fortus' new Executive Director and Chief Marketing Officer, respectively.
Commenting on the sale of the two divisions, Craig Herbert said it was “a strategic move for all parties involved”.
Regarding Fortus’ plans for the future, Herbert added: “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.”
“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.”
Read about a recent trend that has been driving M&A deals in the UK's accounting sector.
An exciting opportunity to acquire a well-established independent financial advisor firm with £125m in funds under management in Wiltshire.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
This firm represents a superb opportunity to establish a hub, with staff and offices already in place.
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