Business and financial adviser completes eighth acquisition in three years

Deal done

Carlisle-based financial services provider, Armstrong Watson, has strengthened its offer for family and owner-managed businesses with the acquisition of Gibbons Accountants Business and Financial Advisers, for an undisclosed sum.

Gibbons has offices in Cockermouth, Workington, Whitehaven and Maryport.

The merger sees a total of 56 staff join Armstrong Watson, marking a significant milestone in the history of the firm, which dates back to its founding in Carlisle in 1867 by James Watson.

Armstrong Watson has a strong presence in West Cumbria and continues to hold a large market share, particularly in the Audit market.

The firm will move into Gibbons’ existing offices and all offices will be represented under the Armstrong Watson Accountants, Business & Financial Advisers brand.

Partners, Russell Thwaites, Philip Holdsworth, Tony Hindmoor, Mark Stanger and Steven Kirkbride have all joined Armstrong Watson along with 52 colleagues and will continue to provide a full range of services to their existing clients.

Russell Thwaites said: “The decision to join forces with Armstrong Watson has been carefully considered and brings significant benefits to our clients and colleagues.

“We believe that clients will continue to receive the highest quality, personal service and for some it will give them the added benefit of being able to pull in the skills of a larger local and regional firm. The opportunities that exist at Armstrong Watson will benefit our clients and colleagues significantly.”

Paul Dickson, Armstrong Watson Managing Partner and CEO, said: “As one of the largest independent Accounting and Financial advisory firms in the UK and certainly the North, we are proud to announce this merger with Gibbons a respected firm in West Cumbria where we have always held the Partners and team in the highest regard.

“The combined business allows us to better support the economy in West Cumbria with a robust professional services firm, providing the necessary support that growing successful businesses need in the region. We have ambitious plans to continue to grow in Cumbria.”

This deal follows eight acquisitions for Armstrong Watson in the past three years, with the firm expanding in Leeds, Newcastle and Carlisle, where it has recently moved in to its new Cumbrian headquarters in the city.

It also takes the total number of Armstrong Watson’s regional offices to 19, spanning from Glasgow to Manchester, and colleagues to more than 630.