AMS Group acquires specialist tax advisory skills with latest takeover deal
AMS Group, the Manchester-based advisory-led professional services firm, has strengthened its tax advisory team nationally with the acquisition of Lichfield-based tax and property surveying firm, Elect, for an undisclosed sum.
Elect specialises in both quantity surveying and the full range of property-related tax incentives and reliefs, with a specific focus on capital allowances.
The strategic acquisition of Elect, as part of the ‘property tax advisory division’ of the AMS group, further strengthens the group’s ability to offer the full breadth and depth of advisory services to its growing base of mid-market and property clients, the company said.
The AMS Group had a growing requirement for property-related incentives and reliefs in the past few years and wanted to enhance the value proposition and service levels to its clients by bringing in the expertise within the group, rather than outsourcing its work to third parties.
Along with the other successful acquisitions made within the tax advisory space over the past few years, the group said it now has one of the strongest mid-market tax teams in the country, with more than 70 people in the tax advisory function alone.
Whilst conducting a full market-mapping exercise, AMS Group was particularly impressed with Elect’s investment into its tech-based solution, which is market leading and leads to a substantial efficiency in the time required to conduct a survey and produce a report.
The AMS Group, formerly known as The AMS Accountants Group and Signature Group, has recently rebranded to reflect the full service professional services offering it provides to its clients. The group, as a whole, has experienced exceptional organic growth, which has been bolstered by four strategic acquisitions in the past few years, including a tax disputes and investigations business, a tax law firm, a corporate finance boutique and an insolvency practice.
Each of these teams has experienced substantial growth after joining the group such that the number of employees will have more than 200 staff by the end of 2024 – 50% of which has been in the past two years alone.
Ebrahim Sidat, AMS Group chief executive, said: “As part of achieving our vision to become the best-in-class advisory firm (in the mid-market), we have a series of strategic acquisitions that we highlighted as part of our investment thesis. Building on our large portfolio of property clients nationwide, bringing Elect into the group allows us to enhance the value proposition to our clients through both quality and service, and capture more of our margin for the work being generated.
“It also allows us to differentiate in the mid-market as we offer the complete depth and breadth of property-related services within our property advisory team, something that is missing in the market post the transition out from the top 10 firms. It will be further enhanced with the addition of insurance services and energy consulting as part of our property advisory team, such that we will have a truly unique offering for clients.”
He added: “With regard to Elect specifically, Iain and Richard have an amazing passion for what they do such that they are fantastic to work with. I knew when I met them that they would be able to attract a fantastic team and deliver the best quality and service to our clients. They have built a fantastic business which would be an ideal platform for future growth.”
David Clegg, senior partner and head of client relations, AMS Group, said: “Richard and Iain have a fantastic client base and they really do pride themselves on taking care of their clients. We are already on with discussing synergies and leveraging off the existing relationship built by the Elect team for most of their medium-sized clients and have had some early successes.
“We have also discussed our differentiated proposition to the clients and we can proudly announce the launch of our exclusive ‘Property Club’, which will give our property clients a chance to network, discuss opportunities and brush up on their knowledge with access to leading figures within the industry as well as a panel of quality professional speakers. We will be announcing the details very soon.”
Iain Stamp, Elect director, said: “From the outset, the culture and values of the business aligned with Elect’s which has given us great confidence in the growth aspirations of the group. We look forward to working with the central services team to provide us with the support we needed to become one of the leading capital allowances and tax incentives firms in the country”
Richard Hier, Elect director, said: “Our Capital Allowances service fits perfectly with the AMS Group’s property division and provides a fantastic opportunity for clients to receive a holistic property solution.
“Being part of the group will allow us further to enhance our service to clients and focus on quality. We have made some significant hires already in the past few months, with the addition of Allan Shaw (director for business development) and industry-leading capital allowances director, Richard Shinfield. With the help of the People and Culture team within AMS Group led by Vic Hopkins, we have been working on finalising our employee journey and employee proposition to bring on board the best talent for the future.”
