Tue, 01 Jul 2025 | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquired a 65-strong business based in the East Midlands. The company’s acquisition of Torr Waterfield sees the firm establish its first dedicated office in the city of Leicester, further strengthening its presence across the Midlands.
Duncan & Toplis, which marks its 100th anniversary this year, now operates from 14 locations, with offices in London, Leicester, Boston, Grantham, Derby, Lincoln, Melton Mowbray, Newark, Loughborough, Sleaford, Spalding, Stamford and Skegness.
In 2023, the company secured backing from private equity firm Blixt Group to enable it to embark on an M&A-led growth strategy. Since then, the company has completed a number of strategic deals and says that the acquisition of Torr Waterfield continues its “largest period of growth to date”.
Following the acquisition, Torr Waterfield will now begin transitioning to the Duncan & Toplis brand. All 65 of the company’s staff, including founders Mark Torr and Mike Waterfield, will remain in their existing roles post-acquisition, providing continuity for the firm’s clients.
Duncan & Toplis Chief Executive Damon Brain commented: “This is an exciting step in our continued growth and reflects our long-term ambition to strengthen our presence across the Midlands. Importantly, as we expand into new locations, our focus remains firmly on supporting all our clients – new and existing – with the personal, trusted advice they value.”
Brain added that Torr Waterfield’s team and founders joining Duncan & Toplis meant that the group is now "even better placed to invest in our people, enhance our services and build for the future.”
Torr Waterfield co-founder Mike Waterfield said: “This partnership allows us to continue providing the personal service our clients value, while gaining access to new expertise, wider resources and greater opportunities for our team.”
Fellow co-founder Mark Torr added that joining Duncan & Toplis would provide Torr Waterfield with “the ability to enhance and expand the services we offer, while staying true to the culture and values we’ve built over the past 25 years.”
Read about the trends driving accountancy sector M&A.
Find out how your company can attract private equity backing for a buy-and-build growth strategy.
This highly profitable law firm in West Lancashire boasts a substantial will bank of 3,000, providing a solid foundation for continuing revenue streams.
This London-based legal advisory practice presents a highly profitable opportunity for acquisition, with a strong track record and an established client base.
Nestled in County Tyrone, this law firm offers a unique opportunity with its highly profitable practice and well-established reputation.
01
|
Jul
|
PE-backed accountancy swoops for 65-strong East Midlands firm | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquir...
01
|
Jul
|
Manchester-based aerospace firm rescued with pre-pack deal | BUSINESS SALE
B&H.PT Limited, a Manchester-based aerospace manufacturer, h...
01
|
Jul
|
Seafood and pork supplier acquires food manufacturing business | BUSINESS SALE
Sofina Foods Europe, a North Yorkshire-headquartered supplie...
19
|
Feb
|
Century old accountants Duncan & Toplis buy peer Underwood Green | BUSINESS SALE
Duncan & Toplis, one of the largest accountants and business...
04
|
Sep
|
PE-backed accountancy establishes London presence with acquisition | BUSINESS SALE
Duncan & Toplis, a private equity-backed accountancy and bus...
01
|
Jun
|
Accountancy firm to target M&A growth after securing PE backing | BUSINESS NEWS
Accountancy business Duncan & Toplis is set to embark on a g...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.