Accountancy firms Tenon and RSM Bentley Jennison have arranged a merger, in a deal that will create a regional heavyweight with about 360 staff in the West Midlands.
The new company – which will trade as RSM Tenon – will be the seventh largest accountancy firm in the country, with a combined fee income of more than £250 million a year.
About a tenth of this will come from the firm’s West Midlands operations.
The enlarged firm will be headed by Andy Raynor as chief executive, leading a total of 50 offices and nearly 3,000 staff.
Mr Raynor said: "We recognised the significant power of combining our practices. RSM Bentley Jennison’s obvious strength in Risk Management combined with Tenon’s substantial Recovery business, our differing sector capabilities and complementary geographical strengths make this merger an extremely exciting proposition. The deal benefits all stakeholders – the shareholders, both teams and most critically our clients who will undoubtedly gain from the new and considerable depth of resource and expertise."
He said the move was part of a long-term strategy to make the companies the biggest financial and business advisors in the UK.
RSM currently has a sizeable office in Birmingham on Legge Street, next to the Aston Expressway. Tenon has a recovery practice on New Street in the city centre.