Independent and proud – PM+M resists overtures and grows team

Helen Clayton

Lancashire-headquartered accountancy firm PM+M has seen its consolidated turnover increase by 15% to £10.75m in its last financial year which ended in March.

The firm has also increased its total headcount to 164 after making 37 new team appointments, of which 29 are in newly created roles, since 1st April last year. This figure includes 10 apprentices who joined in September. People development has remained a central pillar of the business with a 25% jump in its dedicated training budget.

It saw consistent growth across its accounting, audit and advisory, cloud accounting, corporate finance, financial planning, payroll, tax and private client teams.

PM+M, which was founded in 1919 and has offices in Blackburn and Bury as well as an innovation hub within the Apex Centre at The Landmark in Burnley, remains fully independent.

Firms of similar size to PM+M have been targets for consolidators in the accountancy sector, such as Azets, Sumer and Xeinadin, who have been particularly active in the North West.

Over the past 12 months, the firm has appointed Helen Clayton as its new managing partner following the retirement of Jane Parry who was in post for over eight years.

She told that staying fully independent is “incredibly important” to the firm.

“We are approached regularly regarding a sale or private equity investment.  Our experience is that remaining a strong, independent firm in our profession is now a USP and we know that our focus on people enables their personal growth to secure future succession. That strategy – and our independence – won’t be changing and it’s something that we are proud of.”

She said the partners are “fully committed to developing every person in our firm such that there is continual succession, facilitating our commitment to independence.”

Adding: “We have a 100 year-plus history of working with clients across Lancashire and the North West so putting them first, and shaping an internal culture that truly reflects our values, go to the very core of what we are all about.

“Our growth is a result of the talents of our people and the breadth of services we deliver to the businesses and individuals we work with, ensuring we continually evolve and strive to achieve our vision of being best.”

The firm also claimed to have led on a “raft of high-profile deals” that were handled by the corporate finance team and that they had won retained contracts with several major North West companies.