Baldwins expands reach with trio of accounting firm acquisitions
13 Aug 2019
Rapidly growing accounting group, Baldwins, has made three significant acquisitions across the UK, pushing the Top 75 Firm closer to nearest rival
13 Aug 2019
Aberdeen-based Williamson and Dunn Chartered Accountants, Rothmans Chartered Accountants offices in Havant, Fareham and Sutton, along with Treasury Chartered Accountants in Portsmouth have joined the group in the last two weeks.
The new offices will continue to advise their large corporate and SME clients out of the same locations as usual.
Williamson and Dunn will rebrand under the Scotland-based accountancy firm Campbell Dallas name, joining the firm which became part of the Baldwins Group after joining in 2017.
The three Rothmans Chartered Accountants’ offices and Treasury Chartered Accountants in Portsmouth will all trade under the Wilkins Kennedy brand name.
The latest acquisitions mean Baldwins, a CogitalGroup company, now has 97 offices across England, Scotland and Wales – employing more than 3,000 staff. In the Accountancy Daily Top 75 Firms survey in February 2019, annual fee income for the total CogitalGroup's UK interests was estimated at £117.5m based on Companies House' returns. This did not take into account acquitisions since December last year. CogitalGroup itself reports annual income of £225m from UK accounting services.
Shaun Knight, board director at Baldwins, said: ‘These acquisitions reaffirm our commitment to helping develop UK businesses of all sizes to reach their potential by providing them with a full range of accountancy services and specialists.
‘The accountancy market is changing rapidly from a technological and regulatory perspective, and we hope our clients will quickly see the benefits of these acquisitions.
‘The trio of businesses we have joined forces with have laid strong roots in their communities and built up enviable client bases. Through our investment in leading financial software such as our next generation client portal CoZone and our expertise in areas such as banking and finance, taxation and forensic accounting, we will be complementing the general accountancy services that they are providing.
‘Baldwins is developing a spread of expertise where each of our 97 offices is backed up by a nationwide team of experts in specialist fields – an offering that is needed now more than ever as the UK battles through a period of uncertainty – and helps us to stand out from the crowd both for businesses needing advice and for accountancy professionals looking to develop their career.’
The Baldwins Group has undertaken 11 acquisitions in as many months adding a further 36 offices to its national network, recording exponential growth since it joined the private equity backed CogitalGroup in 2016.
CogitalGroup is understood to be considering potential buyers for the consolidated group although the holding company, led by John Connolly, former head of Deloitte, has not confirmed whether any firm offers have been made.
Sara White | 13-08-2019