RSM Tenon
 |
|
| Public Limited Company | |
| Traded as | : |
| Industry | Professional services |
| Founded | 2000 |
| Headquarters | London, United Kingdom |
|
Key people
|
Chris Merry CEO |
| Products |
Audit Tax Advisory |
| Revenue | £208.2m (Annual Report 2012) |
| £5 million (2011 restated) | |
| £0.7 million (2011 restated) | |
|
Number of employees
|
around 2,600 |
| Website | www |
RSM Tenon was a professional services firm based in the United Kingdom, which was once listed on the FTSE SmallCap Index. The company was formed from the merger of the Tenon Group with RSM Bentley Jennison, in December 2009. The company offered risk management, tax, recovery, financial management and business advisory services. RSM Tenon had been the United Kingdom's seventh largest accounting firm with a fee income of £200m, employing nearly 2,600 people in over thirty five offices across the United Kingdom.
RSM Tenon was a member of RSM International, the seventh largest global accounting network with over seven hundred offices in more than one hundred countries.
In November 2011, RSM Tenon was recognised as the ‘National Firm of the Year’ at the 2011 British Accountancy Awards.
In August 2013, the shares of RSM Tenon Group PLC were suspended, and the company went into insolvent administration. The trading subsidiaries were immediately purchased by Baker Tilly UK Holdings Ltd, an unquoted company of chartered accountants and business advisers operating across the United Kingdom, through a limited liability partnership, Baker Tilly LLP, which, in October 2015, re branded itself as RSM UK.
Tenon was one of the first accountancy firms in the United Kingdom, not wholly owned by its partners, being a public limited company (PLC) listed on the Alternative Investment Market. It was formed as a "consolidator", inviting existing small local accountancy partnerships to join it and become part of a national company.
It acquired five firms in April 2001 for £60 million, making it the 15th largest and the first PLC in the United Kingdom league table of accountancy firms. In practice, the company found it difficult to integrate these businesses and its share price dropped to 6.25p in 2003 following the dot-com bubble.
When Tenon was launched, financial audit could not be carried out by a PLC, so the auditors from the predecessor firms formed an associated partnership known as Blueprint Audit. The rules requiring strict separation were relaxed in March 2005.
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Wikipedia