Montpelier makes capital move
MONTPELIER Chartered Accountants, which has offices in Leeds and Sheffield, has acquired a majority interest in London-based Auerbach Hope for an undisclosed sum.
The enlarged company will become a top 35 accountancy firm with 220 employees.
The acquisition, part of Montpelier’s strategy to expand its footprint in the South, increases Montpelier’s scale, geographic coverage and strength in its specialist sectors.
Established in 1950, Auerbach Hope advises SMEs and large firms in the property and construction, retail, leisure and hospitality sectors. Auerbach Hope also represents high-net worth individuals in the fashion and entertainment industries.
Following the transaction, Auerbach Hope will trade as AH Montpelier and will benefit from Montpelier’s central infrastructure, which incorporates IT systems, human resources and business development.
The partners in Auerbach Hope will retain an interest in the London operation and will continue to provide expertise and personal service to its clients.
Robert Jackson, chief executive of Montpelier Chartered Accountants, said:
“Auerbach Hope is a highly experienced and successful organisation with an entrepreneurial focus and an outstanding client list that complements that of Montpelier. This gives Montpelier a valuable platform in London from which we can build our operations across the South organically and through further acquisitions.
“While the past year has been challenging for the mid-market accountancy industry, we are confident that our strategy for expansion in key sectors and regions will enable Montpelier to buck this trend and grow profitably in 2010 and beyond.”
Irvin Fishman, a partner at Auerbach Hope Chartered Accountants, added:
“The culture of Montpelier is very similar to that of our own with a strong emphasis on providing cost-effective solutions while maintaining the highest standards of client care.
“We are excited to be joining such an ambitious group as it continues to expand both its geographic spread and depth of expertise, which will be enormously beneficial to clients of the enlarged group.”
Montpelier was advised by corporate law firm Mace & Jones. Muscatt Walker Hayim advised Auerbach Hope.
Headquartered in Manchester, Montpelier has a strong presence in the manufacturing, digital and creative, food and farming, leisure and hospitality industries.
It formed in 2005 and has grown rapidly through an ambitious programme that has seen the firm acquire professional services companies in Northern, Central England and Scotland. Montpelier Chartered Accountants is part of the Montpelier Group, a global wealth manager and advisory firm with 52 offices in 14 countries.
