CORPORATE finance specialists at Fanshawe Lofts in Southampton have helped an American firm expand its overseas network with the acquisition of a Southampton business.

Hilco is expanding its European interests after buying TASC Valuers and Auctioneers.

TASC, headed by Roger Townsend and established for less than three years, has offices in Southampton and London.

It provides a total solution for corporate asset management, valuation and disposal. As such their skills and client base complement those of Hilco Appraisal, established to help expansion in Europe.

The Hilco organisation is a formidable and highly respected American company providing valuation, disposal, acquisition and financing of business assets. The company serves banks, insolvency and turnaround specialists and venture capital firms as well as corporate clients throughout North America and in Europe.

"I am absolutely delighted that TASC has been acquired by Hilco," says Roger Townsend. "The company has an unparalleled understanding of asset values and is renowned for bringing remarkable insight to the valuation of corporate assets, especially large-scale inventories. The two companies combined in the UK will be a powerful force for existing and new clients.

Mr Townsend will become chief executive based in London and Mark Proudley will remain in Southampton to offer specialist services to regional insolvency practitioners.

"Fanshawe Lofts has known and worked with Roger Townsend for a long time. It is great to see his young, energetic company go from strength to strength," says Rosemary Penn-Newman, corporate finance partner of Fanshawe Lofts.

"Hilco is a prestigious player in this market and this acquisition is an exciting one, reflecting the changes in the world of valuation services. We are pleased to have been able to support our client in securing this deal."