Montpelier underlines national goal with Capital swoop

MONTPELIER Chartered Accountants, the ambitious Manchester-based firm,has swooped to buy a £4m turnover London-based practice, Auerbach Hope.

The enlarged group will become a top 35 accountancy firm with 220 employees.

The acquisition, part of Manchester-based Montpelier’s strategy to expand its footprint in the South, takes its turnover to £15m

Its goal is to a create a £25m turnover national firm, and is now chasing acquisition targets in Birmingham and the Bristol areas, chief executive Robert Jackson told TheBusinessDesk.com.

“The recession has slowed our growth plans, but I think the Auerbach Hope deal sends out a clear statement of intent.

“I’m now looking at the Midlands and South West as our next target areas and we’re already talking to firms in Birmingham and Bristol.”  

Established in 1950, Auerbach Hope advises SMEs and large firms in the property and construction, retail, leisure and hospitality sectors.
It also represents a number of high-net worth individuals in the fashion and entertainment industries.

Auerbach Hope will trade as AH Montpelier for the next 12 months  before the AH is dropped in favour of the Montpelier brand.

Mr Jackson said: “Auerbach Hope is an extremely profitable,  highly experienced and successful organisation with an entrepreneurial focus and an outstanding client list that complements that of Montpelier.

“This gives us a valuable platform in London from which we can build our operations across the South organically and through further acquisitions.

“While the past year has been challenging for the mid-market accountancy sector, we are confident that our strategy for expansion in key sectors and regions will enable Montpelier to buck this trend and grow profitably in 2010 and beyond.”

Irvin Fishman, a partner at Auerbach Hope Chartered Accountants, added:
“The culture of Montpelier is very similar to that of our own with a strong emphasis on providing cost-effective solutions while maintaining the highest standards of client care.

“We are excited to be joining such an ambitious group as it continues to expand both its geographic spread and depth of expertise, which will be enormously beneficial to clients of the enlarged group.”

Montpelier was advised by corporate law firm Mace & Jones. Muscatt Walker Hayim advised Auerbach Hope.

Headquartered in Manchester, Montpelier has a strong presence in the manufacturing, digital  and creative, food and farming, leisure and hospitality industries.