ETL Global UK takes majority stake in South Coast accountancy firm
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ETL Global UK, a professional services firm which has its UK headquarters in Bolton, has acquired a 51% majority stake in Southampton accountancy firm Fiander Tovell.
Following the deal, the Southampton firm will gain access to the resources and expertise of a global network of firms which together employ more than 13,000 professionals in over 50 countries worldwide.
Fiander Tovell, which was established in 1976, provides accountancy, audit, tax and corporate advisory services to a range of businesses and regulated organisations, including professional firms, schools and charities. It will remain operationally independent under the leadership of its existing directors Andy Jay, Paul Meacher and Cathy Revis.
The Legal 500-listed Glaisyers ETL corporate and commercial team advised ETL Global UK on the transaction led by partner and head of corporate William Pinnock.
Mr Pinnock, who is based in the firm’s Manchester office, said: “It is always a pleasure to work with our ETL partners on transactions that help to grow the network.
“It is not only beneficial for our parent group but also for Glaisyers’ practice, because every additional firm that joins the network adds to the pool of professional expertise on which our clients can call.”
Fiander Tovell is the 14th UK accountancy practice to join the ETL Global network – the first, in 2014, was Bolton-based EKW Group.
ETL Global’s footprint in the UK also includes the law firms Glaisyers ETL and Laytons ETL, as well as a human resources consultancy, a recruitment business and a managed IT services provider.
Sara Brassington, managing director of ETL Global UK, said: “We are pleased to welcome Fiander Tovell into the ETL family. Expanding our network in the UK continues to be a primary focus for ETL Global and we are pleased to continue to build our extensive portfolio of professional service firms with such a reputable company.
“This was also the latest in series of professional services firm investments in which we have been able to call upon Glaisyers ETL for legal advice. It is really helpful to know we can rely on their expertise to ensure the smooth and speedy completion of what can often be quite complex transactions involving regulated professional firms.”
ETL Global was founded more than 45 years ago and has its international headquarters in Essen, Germany. Member firms are able to provide their clients with access to the group’s global network of professionals, as well as benefitting from commercial partnerships with other ETL firms worldwide.
Andy Jay, managing director of Fiander Tovell, said “We are delighted to join the ETL network. Becoming a partner will enhance our client service offering, providing a greater depth of resource while ensuring that we retain our independence and our standing as a leading Southampton firm.”