Baldwins expands Scottish reach with Scott-Moncrieff merger
18 Apr 2019
Scott-Moncrieff, Scotland’s longest established accountancy firm, is to join Baldwins, part of the fast-growing challenger audit services firm CogitalGroup, which now has a significant Scottish presence via both acquisition and organic expansion
18 Apr 2019
Following the latest deal all 16 Scott-Moncrieff partners and 220 staff will join Campbell Dallas, creating one of Scotland’s largest accountancy and business services firms.
Scott-Moncrieff reported fee income of £14m for year end April 2018 and was ranked 52nd in the annual Top 75 Firms survey. In October 2017, Campbell Dallas and Springfords became the first Scottish firms to join Baldwins followed by Ayr-based Sinclair Scott in May 2018.
The joint business will employ 45 partners and over 500 staff in Scotland, operate from 11 offices from Inverness to Ayr, and have a combined fee income approaching £40m a year.
Stewart MacDonald, managing partner at Scott-Moncrieff, said: ‘Joining Baldwins and the CogitalGroup presents an exciting opportunity for our clients and our people. CogitalGroup leads the industry in using technology to deliver cutting-edge services to clients, with the ability to adapt quickly to changing client needs.’
Scott-Moncrieff provides a broad range of audit, accountancy and business advisory services to SMEs, public sector organisations, charities, entrepreneurs and private individuals.
The firm’s sectoral strengths lie in financial services, technology, manufacturing and the public sector. The expanded business will provide the full portfolio of accountancy and advisory services together with an extensive expertise in industry sectors ranging from brewing and distilling to farming, education, professional partnerships, dental and medical practices.
Shaun Knight, board director at Baldwins, who has responsibility for Scotland, described this is a pivotal deal for the wider business and for Scotland’s accountancy sector.
He said: ‘The addition of Scott-Moncrieff will provide the UK business with access to one of Scotland’s strongest public and third sector firms as well as expanding the geographical footprint in the north and east of Scotland.
‘The combined business will have the largest VAT team in Scotland and adds specialist services in areas such as IT strategy and cyber security. Staff will also have access to more rewarding and varied career opportunities. ‘
Baldwins, a Cogital Group company, now has 88 offices throughout the UK as part of its national strategic expansion plan, employing 2,700 staff with an annual turnover of approximately £200m. International business services group CogitalGroup has with annual revenues of £480m, employing around 6,000 people across 170 offices.