Regional accountancy business acquired by PE-backed investor
Huddersfield-based accountancy firm, Revell Ward, has been acquired by private equity-backed DJH Mitten Clarke in a deal overseen by KBS Corporate.
Revell Ward offers financial and business support services to companies and private clients across Yorkshire.
It was founded in 2008 following a management buyout of Mazars’ office in Huddersfield.
The firm is managed by directors Karen Borowski, Jennifer Davies and Lesley Sutton, who instructed KBS on the sale of the business as part of the firm’s long-term growth strategy.
Richard Stocks, senior research analyst at KBS Corporate, managed the buyer outreach process.
He said: “Revell Ward has a strong market presence and high-quality client base. It was an attractive prospect for potential acquirers as a regional firm with a one-stop-shop service.
“The company generated multiple offers that presented Karen, Jennifer and Lesley with varying valuations and structures.
“We were in a suitable position to positively negotiate and advise on different opportunities that could fulfil their eventual exit.
“The financial M&A industry is observing increased private equity interest as major investors look to enter the market and consolidate.”
The successful offer came from DJH Mitten Clarke, an accountancy firm with offices in Stoke-on-Trent, Chester, Leeds, Manchester and Walsall.
DJH Mitten Clarke recently received backing from private equity investor Tenzing Capital, an investment specialist focused on high-growth SMEs in the UK and Europe.
The acquisition facilitates DJH Mitten Clarke’s long-term vision and enhances its geographical reach.
Scott Heath, CEO of DJH Mitten Clarke, said: “Our partnership with Revell Ward further strengthens our foothold in the North, ensuring clients across the region benefit from exceptional services and business advice.
“Our aim is to further solidify our commitment to developing top accountancy talent through investment in training and providing tailored solutions that empower businesses to succeed.”
Borowski added: “The alignment of values between Revell Ward and DJH Mitten Clarke will ensure the seamless integration of our technology, services and teams.
“We are extremely excited about the future and the opportunities the partnership will create for both our team and our clients.
“We are proud to be Huddersfield’s trusted accountancy firm and will remain at the heart of West Yorkshire’s business community.”
Jay Singh, KBS Corporate finance director, who oversaw the sale, believes the professional services market is primed for consolidation, with KBS benefiting from strong relationships with key acquirers and investors.
He said: “It was a pleasure to advise Revell Ward’s shareholders and see the business pass on to a larger group that secures the long-term future of the firm.
“Whilst we generated significant interest and multiple offers, the key for this transaction, and identifying DJH Mitten Clarke as the preferred bidder, was to ensure the businesses were strategically and culturally aligned, which ultimately facilitates a smooth integration process.”