Acquisitive accountancy group bags capital injection to support growth plans
Northampton-based chartered accountancy and business advisory group Cottons has secured a loan from OakNorth Bank to help support its expansion plans.
Cottons will use the capital to refinance existing acquisition debt, support recent acquisitions including Roberts & Co. and J R Watson & Co, and fund future swoops.
The value of the loan has not been disclosed.
Established in 1983, Cottons employs over 100 people across its offices in Northampton, Rugby, Daventry, Milton Keynes, Market Harborough and London.
Will Smart, managing partner of Cottons Group, said: “At Cottons, our people and our personalised approach are our greatest assets and we’re committed to offering our clients reliable, first-class service at every step in their business journey.
“This bespoke debt facility from OakNorth will help propel Cottons forward, as we look to continue scaling the business further through acquisitions, helping us to build upon our well-established branch network and strong long-term relationships with clients.
“OakNorth’s ability to create a truly bespoke package that provided all our funding under one facility has been invaluable.”
Dale Cowdell, associate director of debt finance at OakNorth Bank, added: “Cottons is a well-established and well-respected, full-service accountancy practice, that has a strong focus on quality and a personalised approach. As the firm prepares for the next chapter of its growth journey, we’re delighted to play a part in its push forward for further acquisitions.
“With the accounting and auditing market set for significant growth over the next five years, driven by factors such as increasing M&A activity, Cottons is in a perfect position to capitalise on this opportunity. We look forward to supporting them again in the future.”