FTS Recovery acquires IRL

FTS Recovery has strengthened its South Coast presence by acquiring boutique insolvency practice IRL, led by experienced insolvency practitioner Ken Touhey.

The acquisition brings IRL into FTS Recovery and the wider Apteus Group, expanding the firm’s regional presence and adding expertise and established professional relationships. Ken Touhey joins FTS Recovery alongside two members of his existing team, including fellow insolvency practitioner Vanessa Blackwell.

The acquisition follows nine months of close collaboration between the two firms, during which IRL has drawn on FTS Recovery’s resources to support its growing caseload.

IRL has traditionally operated as a boutique practice, outsourcing functions including IT, HR, marketing and accounting. Joining FTS Recovery will allow the team to access these services through the firm’s existing infrastructure, while continuing to serve its established network of professional referrers and clients.

Ken Touhey said “IRL has always been a boutique practice, but as the volume of work we were taking on increased, we needed access to additional resources. We’ve been working closely with FTS Recovery for around nine months, which has given us the opportunity to understand how the business operates and the quality of its work.

“It’s been a very natural progression. The relationship has worked extremely well and becoming part of FTS Recovery means we can continue to develop our client relationships and take on new assignments with the support of a much larger team.”

The acquisition forms part of FTS Recovery’s continued expansion and strengthens its ability to support businesses and professional advisers across the South of England.

Marco Piacquadio, Director and Head of Recovery at FTS Recovery, said “We’re delighted to welcome Ken and his team to FTS RecoveryKen brings considerable insolvency experience and strong relationships with professional advisers across the South Coast. Having worked together successfully over the past nine months, we already know that our teams are a good fit.

“This acquisition strengthens our regional presence and gives Ken and his colleagues access to the wider resources and expertise of FTS Recovery and the Apteus Group. It’s a positive step in the continued development of the business.”