RSM Tenon has acquired the national Financial Management operations of Vantis for a cash consideration of around £7 million.

The deal also sees the acquisition of the Thames Valley Recovery office and its London, Epson and Leicester advisory offices, and increases RSM Tenon’s Financial Management service line operations to across 30 locations throughout the UK.

The acquisition, which completes today, includes 300 staff augmenting the existing RSM Tenon teams, adding up to an estimated £27 million to the firm’s annual fee income.

Additional audit, tax and advisory work across three locations arrive from the transaction.

“We have always admired the underlying businesses within Vantis, continuing to deliver outstanding client service to entrepreneurs despite the difficulties of the holding company,” said Andy Raynor, chief executive of RSM Tenon Group plc. “The resilience and skill of the people joining our teams is reflected in their loyal client following. This is a seamless fit with our own operations.”

John White, head of financial management of RSM Tenon Group plc, added: “The financial services market is in a major transitional period and this acquisition adds quality people and services to our growing proposition for our clients. We continue to offer intelligent and innovative solutions for both our corporate and private clients. Our clients will benefit from our enlarged service offering in particular the boost to our Investment Solutions as we become a significant advisor on asset management.”

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