Law firm advises global group on eight-figure deal for UK accountancy practice
Manchester-based Glaisyers Solicitors has advised the Germany-headquartered international business advisory group ETL Global on its eight-figure acquisition of a substantial minority stake in the top-40 UK accountancy practice SRLV LLP.
This investment, which will support London-based SRLV’s immediate growth strategy and its planned move to larger premises in the capital, represents ETL Global’s 28th UK acquisition.
ETL Global also holds a stake in Glaisyers Solicitors, having backed the firm’s buyout by former Kuits Solicitors partners David Jones and David Marlor in 2018.
The corporate department at Glaisyers, which is headed by Akbar Ali, led the transaction process for ETL.
Mr Ali was supported by other members of the corporate department and an interdisciplinary team from across the firm.
Mr Ali joined Glaisyers in Autumn 2018, and has since grown the corporate team from two to six.
The department is on course for a headcount of 10 by the end of the next financial year, based on a solid, and growing, pipeline of work.
He said: “ETL have a specific growth model and investment strategy, providing backing to businesses across the UK, allowing them to grow flexibly over the long term.
“I am thrilled to have acted on this highly technical deal bringing SRLV into the ETL network.”
ETL Global, which is headquartered in Essen, Germany, is a worldwide interdisciplinary network of professional services firms combining tax, legal, audit and accounting services.
Its 9,000-strong team of advisors assists more than 200,000 clients in around 60 countries.
Sara Brassington, managing director at ETL Global UK, said: “SRLV are a top 40 accounting firm in the UK. We are excited to be working with them and to back such an experienced firm.
“Akbar and his team have supported us throughout the deal process, getting it across the line smoothly and in good time, paving the way for our broader investment strategy.”
SRLV, which was founded in 1988, employs 15 partners and almost 150 staff and currently operates from headquarters on New Bond Street, London.
The firm provides accounting, corporate finance, tax planning, wealth management and business consulting services to a clientele of SMEs, international entities and high-net-worth individuals.
Richard Rosenberg, partner at SRLV, said: “This is an exciting time for SRLV. Our clients are always our main focus and this move allows us to support them in all kinds of new and unique ways.
“This was the logical next step for our business, and joining ETL will bring an explosion of positive growth to the company.”
Charles Russell Speechlys acted for SRLV and its existing partners.
