Stratford accountants plan to expand services following merger

TWO Stratford-Upon-Avon accountancy practices have merged with support from Lloyds Bank Commercial Banking.

Grenfell James Accountants and Accountax Services have become Grenfell James Associates after board members identified the opportunity to combine the two companies in order to expand the services on offer to its clients.

The terms of the deal have not been disclosed.

Both firms have a long history in Warwickshire, with the two businesses operating for more than 20 years each, building up a combined client base of more than 500 customers.

As a result of the merger the business’ turnover is expected to increase by 30% this year. 

Chris Wood, director at Grenfell James Associates, said: “The combination of the two companies is a positive move for both businesses as it will allow firms to combine the differing expertise and knowledge to offer an even greater level of support and service to clients.

“As a result of the merger we now offer a full suite of accountancy services from book keeping to outsourced Finance director roles, as well as a specialist Tax department, HMRC investigation protection and wealth management services.”

To help fund the merger, the board approached Lloyds Bank Commercial Banking which provided the business with a working capital facility, enabling it to successfully rebrand the business.

Jon Colebrook, relationship manager at Lloyds Bank Commercial Banking, said: “We have had a relationship with both businesses for more than 20 years and have supported them at various stages of their development.

“When the board approached us to secure the working capital facility, we immediately recognised the benefits that would come with the two practices combining, both for its clients and employees.”