Accountancy firm doubles in size after Yorkshire acquisition

Langricks Chartered Accountants has acquired Holmfirth-based Michael Bell & Co, for an undisclosed sum, formalising long-established ties to create a new, expanded practice.

The deal doubles the size of the Wilmslow-based Langricks business, taking the headcount to 19 and turnover in excess of £1m, and adding key tax and audit expertise to its existing compliance and advisory services.

It represents a milestone in the company’s ambition to be a top 100 accountancy firm by 2028.

Both companies’ directors, Michael Bell and Chris Langrick, are Huddersfield born and bred and they said the acquisition was a natural extension of a well-established professional and personal relationship.

They are also both KPMG alumni. Bell is a former president of Huddersfield Society of Chartered Accountants and launched Michael Bell & Co in 1989. Langrick set up Langricks in 2009.

Langrick said: “There is a great deal of trust and respect between the two companies and now is the right time for us to take the next steps.

“Michael was looking for a successful exit plan and less day-to-day operational responsibility. We were looking for a foothold in Yorkshire with a well-respected independent brand.”

Bell will continue to deal with complex tax matters for clients and support the promotion and development of the business in the Yorkshire market.

He said: “I am feeling really positive about it all. Our clients and the team have got an exciting future to look forward to.”

Langrick stress that it would be very much business as usual in Holmfirth: “We will be continuing to provide the quality of services expected of us across the client base and we are very focused on staff development,” he said.

“With expansion across the M62 corridor there will undoubtedly be increased opportunities to grow careers with us and benefit from our ambitions to be a top 100 accountancy business to work for.”

The acquisition news follows Langricks’ hiring of Non-Executive Director, Andrew Milnes, 12 months ago. He said he is passionate about the role of the independent accountancy practice in supporting ambitious SME owners.

Milnes said: “Ultimately, for independents, it’s about having a high quality team delivering excellent service, doing the basics very well, and developing and expanding top end advisory services alongside.

“This is something that Langricks excels at already and will be at the heart of growing a bigger organisation.”

Langrick did not rule out more alliances on the road to top 100 status. He added: “There is definitely more opportunity to work with independent practice owners looking for positive exit solutions as part of our journey.”