Eleven staff will transfer to Wbg, taking the headcount of its restructuring function to 33.

It takes the combined business to five insolvency practitioners, one of the largest teams in Scotland, and gives Glasgow-based Wbg the highest headcount in Scotland for restructuring with a combined £4 million in annual revenue.

Donald McKinnon, Wbg COO, said: “Dunedin Advisory is well known to Wbg, both firms having acted for Scottish Government executive agency Accountant in Bankruptcy (AiB) under contracted out insolvency services, and we are thrilled with the significant expansion of our restructuring offering this strategic acquisition brings, which will enhance the range and depth of services we can bring to our burgeoning client base.”

Christine Convy, director at Dunedin Advisory, added: “We are delighted to become part of Wbg through this deal which will directly benefit our clients.”

Wbg has 190 employees operating across an eight-strong office network throughout the UK and Ireland with a fee income of £16m serving over 8,000 clients.

It has a plan to achieve £50m fee income through continued organic growth and further planned acquisitions. It is also committing significant investment in people and technology to enhance its resource and service market demand.