Fresh expansion for accountancy group a month after major investment deal
MIDLANDS accountancy group Baldwins has embarked on fresh expansion, acquiring two firms – one in Worcestershire and one in Warwickshire.
It said the annexe of Allchurch Bailey would bolster its presence in Evesham and Pershore, while the deal for Cotswold Accountancy gave it a platform in Iron Cross.
The terms of the deals have not been disclosed.
The acquisitions come a month after Baldwins secured a major new investment deal with CogitalGroup, which is backed by HgCapital.
The double acquisition will see the two firms trade together as Baldwins Accountants incorporating Allchurch Bailey at Allchurch Bailey’s offices.
The fresh investment is Baldwins’ first foray into the Evesham area as it continues to grow its presence around the UK.
Baldwins now has 29 offices around the country, including Worcester and Gloucester, employing over 650 staff with an annual turnover of circa £50m.
The latest move has seen all staff from Cotswold Accountancy transfer to Allchurch Bailey’s offices, which houses 27 members of staff and is being jointly run by David Brown, Lin Andrew and Will Bailey.
David Brown, director at Allchurch Bailey, said the deal was a game-changer for the business and its clients.
He said: “Joining Baldwins will provide our existing clients with a variety of added value services, including the ability to engage with specialist tax and corporate finance teams.
“We are looking forward to continuing to develop our presence in Evesham and Pershore along with helping our new and old clients achieve their business goals.”
John Baldwin, director at Baldwins, added: “We’re thrilled to have Allchurch Bailey and Cotswold Accountancy join the group, this give us greater opportunity to utilise our specialist services to a wider audience and brings in the newly added probate service to the group.
“By having such a varied geographical spread, we are developing an invaluable network that will enable businesses in and around surrounding areas to connect with other entrepreneurs further afield in the region.
“2016 has seen many acquisitions as part of our national strategic expansion plan, and 2017 will see these plans continue.”
