RSM Tenon snaps up Vantis’s assets - Business - Evening Standard
       

RSM Tenon snaps up Vantis’s assets

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30 June 2010

Accountants RSM Tenon today spent £6.8 million buying assets off bust administration group Vantis, including its Wigmore Street office, its Thames Valley insolvency arm and its independent financial adviser business.

The assets generated £27 million in revenues for Vantis in the year to May, and made a profit of £4.1 million.

Tenon's chief executive Andy Raynor said: "These teams and services add significantly to our own operations."

Vantis collapsed into administration today, two weeks after its shares were suspended from the junior market.

The insolvency specialist was hit by unpaid fees from winding up Allen Stanford's Antiguan bank.

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