Acquisitive accountancy group Vantis looks to have pulled off a stunning deal, agreeing to acquire rival AIM-quoted concern Numerica for £15.8 million and to then immediately sell on three practices in Bristol, Southampton and Manchester to BDO Stoy Hayward for £12.1 million in cash.

Numerica last year reported a turnover of £46.6 million. The three businesses to be bought by BDO produced £16 million revenues. This means that – providing its shareholders approve the transaction – Vantis will be left with the residue, making turnover of £30 million, for a net cost of £3.7 million.

Tightly run Vantis should also be able to cut out costs. For example all except one of Numerica’s board directors will go. The group will also have opportunities to provide additional services, such as tax advice, to Numerica’s client base and so boost income.

Numerica made a £1 million profit before tax, goodwill and exceptional items in the six months to November. Vantis’ interims to October showed a 52 per cent rise in pre-tax profit to £1.95 million on sales up 48 per cent to £15.1 million. This bodes well going forward.