Scott-Moncrieff has acquired the Glasgow-based Corporate Recovery practice of Moore Stephens LLP for an undisclosed sum.
The 15-strong team will be based in Scott-Moncrieff’s Glasgow office in Bothwell Street where they will be assimilated into the firm’s Corporate Advisory Group.
Leading the team, corporate finance partner Stewart MacDonald, said: “We have been advising on many business turnaround assignments, including business restructuring, refinancing and debt recovery. Looking forward I see this being an area that will continue to grow, so when the opportunity arose to acquire an experienced corporate recovery team we moved to bring them in house.
“For the past two years there has been an increase in the number of requests from businesses asking for assistance on turnarounds, help with cash flow issues etc and there is no question business leaders value the advice of trusted business advisers in challenging circumstances. The additional resources we can now offer from the expanded team will be welcomed by those in need of support.
“As well as covering our offices in Edinburgh and Glasgow, the expanded team will be looking to work with companies throughout Scotland.”
Scott-Moncrieff is an independent Scottish accountancy firm, which is part of the Moore Stephens International association of independent accountancy firms.