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Benefit buy boosts Torquil Clark turnover to 5m

Torquil Clark has acquired neighbouring firm PS Employee Benefits in a deal that will more than quadruple company turnover.

Torquil Clark will move all 12 PSEB employees into its offices in Wolverhampton, bringing its total staff to 60 and boosting turnover from around 1m to 5m a year.

A second Torquil Clark deal, which is set to be bigger than the PSEB deal, is expec-ted to be announced at the end of the week.

The PSEB acquisition is subject to FSA approval.

PSEB has around 5,000 clients as part of its corporate advice business and Torquil Clark is keen to expand in this area.

Last week, Torquil Clark managing director and foun-der Don Clark announced that he had stepped down and left the company in the hands of former finance director John Chapman.

Chapman says all 12 PSEB staff, including three advi-sers, would be employed at Torquil Clark’s offices but refused to reveal how much had been paid for PSEB.

He says: “We were looking for a certain type of business in the local area that would match our style and who we would be able to bring into our infrastructure.”

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