Kevin Reed, Accountancy Age, Friday 24 September 2010 at 16:44:00

Montpelier aims for turnaround market with Armitage Jones acquisition

Acquisitive accountancy firmMontpelierhas announced a move into the turnaround market with the purchase of ArmitageJones.

Montpelier has set up Montpelier Business Reorganisation, which willincorporate the Yorkshire acquisition ? managed by its partner Chris Jones, TonyArmitage and Simon Padgett.

The trio provides remedial advice at board level to struggling businesses. Ithas a team of eight staff and generated seven-figure levels of fee income in itsfirst full year of operating.

The team will relocate to Montpelier?s existing Leeds office which willbecome the new company?s first UK location.

Montpelier founder Watkin Gittins said: ?We have been looking for the rightexpertise to bring a business restructuring and reorganisation offering to ourclients, and we have been impressed by the rapid growth of Armitage Jones into aformidable player in the market in less than two years.

?This move isn?t a plain turnaround or insolvency launch, it fulfils thedemands for a new take on this market which is necessary due to theunprecedented economic changes arising from the banking crisis."

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