Duncan & Toplis expands into Leicester with Torr Waterfield deal
Duncan & Toplis has expanded into Leicester, with a deal to bring professional services firm Torr Waterfield into its group. Following the merger, Torr Waterfield’s 65 staff will join Duncan & Toplis’ headcount of more than 500 employees, while also adopting its branding.
Damon Brain, CEO of Duncan & Toplis, 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.”
Founded in 1925, Duncan & Toplis is a UK audit and advisory firm, with more than 500 staff, and serving more than 12,000 businesses and individuals. In 2023, the firm received notable backing from private equity firm Blixt Group, which it has used to embark on a sustained acquisition drive.
In the years since the investment, Duncan & Toplis has completed a number of strategic deals – and the latest for Torr Waterfield takes its national presence to 14 locations. The firm now spans the Midlands and London, including Boston, Derby, Grantham, Lincoln, London, Loughborough, Louth, Melton Mowbray, Newark, Skegness, Sleaford, Spalding, Stamford and Leicester.
Based in Leicester, Torr Waterfield has practiced accountancy since 2000. With many clients in the local community of all shapes and sizes, it has grown to a team of 65, including nine directors.
Growing Midlands presence
The addition of Torr Waterfield comes not only in Duncan & Toplis’ centenary year, but also its largest period of growth to date. As part of the group’s ongoing long-term strategy to invest in people, services and communities. All staff will now transition to Duncan & Toplis.
Mike Waterfield, co-founder of Torr Waterfield, stated, “We’re excited to move forward as part of Duncan & Toplis. 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. It’s a hugely positive step for everyone involved.”
Waterfield and fellow co-founder Mark Torr will remain in their existing roles post-acquisition. According to a release from Duncan & Toplis, this will help to provide “continuity for [Torr Waterfield]’s clients”.
Torr added, “This marks a new chapter for Torr Waterfield and a fantastic opportunity for our clients and team. Becoming part of Duncan & Toplis gives us 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. We’re very proud to be joining such a forward-thinking group.”
