Accountancy group Vantis has moved to expand its operations by acquiring the non-audit business of Buckinghamshire-based general practice firm Brewer Higgins.
Vantis has made an initial cash payment of £401,000 for the business, but the final price is dependent on performance and growth and is expected to rise to £727,000.
Directors of Vantis expect the deal to bring about an immediate increase in earnings from its non-audit business, together with more cross-selling opportunities.
Paul Jackson, chief executive of the AIM-listed company, said he was delighted to have completed a deal which would allow Vantis to strengthen its presence in the Thames Valley.
"Brewer Higgins brings business opportunities and an experienced, motivated team to Vantis enabling us to further strengthen our client base and team," added Mr Jackson.
The 2007 edition of Accountancy Age's top 50 firms UK
accountancy firms ranked Vantis in 13th position, with its fee income of £85.3 million representing growth of 20 per cent.
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