One of Yorkshire’s largest independent chartered accounting firms is acquired
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Azets, the UK’s largest regional accountancy firm and business advisor to SMEs, has today announced its acquisition of Garbutt + Elliott, a specialist accountancy firm with offices in York and Leeds.
Established in 1896, Garbutt + Elliot is now trading as Azets in Yorkshire, offering its existing clients access to specialist advisors across the UK and internationally in Restructuring & Insolvency, Forensics, Data Analytics and Cybersecurity, as part of the Top 10 UK accounting firm.
Garbutt + Elliott clients will also benefit from Azets’ investment in technology, with digital platforms such as CoZone, focusing on helping clients ensure compliance, grow their business, and provide tools and information to enable real-time business and commercial advice.
The acquisition sees Azets expand into Yorkshire for the first time, adding York and Leeds to its network of 80 UK offices, enhancing key service lines including Audit & Accounts, Payroll, Corporate Finance, Tax, and Private Clients, and creating a new sector specialism regionally in the Food & Beverage (F&B) industry.
Acquiring Garbutt + Elliott adds over 200 people in business support and client-facing roles to the Azets team, including 15 Partners.
The two offices in Yorkshire are based at Park Place in Leeds and Monks Cross in York.
Azets already has a strong presence across the North with eight offices in the North East and 6 offices in the North West.
Garbutt + Elliott, which has a turnover of about £12m, is well known for its annual Food and Drink Awards, championing the best of the entrepreneurs, manufacturers and producers behind the Yorkshire food and beverage community.
Chris Horne, CEO of Azets, said: “I’d like to offer a warm welcome to Garbutt + Elliott as they join Azets at an exciting time in our growth.
“We’re delighted to create a presence in Yorkshire, adding to our office network in the North of England and across the UK.
“Garbutt + Elliott’s strong regional reputation and specialist expertise, combined with Azets’ local and international reach opens up a wealth of opportunities for our clients.
“We believe strongly in the local delivery of services, whilst giving businesses in Yorkshire the opportunity to benefit from our breadth, depth, and experience as an SME focused international accounting, tax, audit, advisory and business services group.
“Acquiring Garbutt + Elliott is a significant milestone on our journey to increase revenue by 50% in the next five years.
“This acquisition demonstrates our commitment to building the Azets brand and footprint throughout the UK and Europe.”
Russell Turner, managing partner at Garbutt + Elliott, said: “We’re incredibly proud of our heritage and motivated to deliver success throughout the next chapter as part of the Azets family.
“Having first established 125 years ago, we retain our position as one of the largest chartered accountancy firms in Yorkshire, boosted by joining a UK Top 10 firm with shared values and beliefs in providing a personal approach to supporting the needs of local and regional businesses.”