The move is part of a strategic growth plan designed to expand the group’s regional presence and client offering across the east Midlands.

The agreement, which is pending regulatory approval, will see Torr Waterfield join the Duncan & Toplis group in the coming weeks.

Once completed the firm, which has revenues around the £3m mark, will rebrand as Duncan & Toplis, with all 60 team members – including directors and co-founders Mark Torr and Mike Waterfield – continuing in their current roles.

The value of the deal has not been disclosed.