Accountancy firms announce merger

Accountancy and advisory firm Hentons has launched ambitious expansion plans and announced a merger with York-based practice Forster Stott & Co.

Hentons, which employs more than 80 staff across offices in Leeds and Sheffield, said the merger will support its expansion in North Yorkshire, the East of the county and beyond.

The deal, for an undisclosed sum but backed by a “multi-million pound” funding package from Lloyds Bank Commercial Banking, will see the York team expanded to offer a broader range of advisory and tax services to existing and new clients.

Nadeem Ahmed, managing partner of Hentons said: “Our partner-led entrepreneurial approach has supported the rapid growth of Hentons over the last couple of years. Business owners value the wide range of services they can access through our partners. We are now undertaking a period of expansion through organic growth and acquisition that will see us servicing a bigger footprint in the North.”

Forster Stott & Co has a heritage in York and Thirsk going back 110 years and its team will be retained and expanded.

Steve Kilmartin, managing partner of Forster Stott & Co, said: “Both companies share a focus on providing an excellent partner-led service to clients. Hentons has made a tremendous investment in technology, and our clients will benefit enormously from the new digital platforms. It is good news for our clients, who can now also access advisory services ranging from expert tax advice to wealth management and corporate finance.”

Lee Rycraft, relationship director at Lloyds Bank Commercial Banking, said: “Hentons is now on track to grow its turnover by more than 20% and to create more jobs across its Leeds, Sheffield and York bases.

“Supporting firm’s like Hentons, which has an excellent reputation in the region and in its field, is central to our mission on helping Britain prosper. We’ve grown our net lending to SMEs by 32% to make sure they have the necessary access to finance for growth.”