BKL acquires Green & Purple accountants
14 Nov 2019
Chartered accountants BKL has acquired Green & Purple, an accounting firm specialising in providing chief financial officer (CFO) led virtual finance office services
14 Nov 2019
The move has been driven by demand from BKL’s clients for strategic, commercially minded business advice.
Green & Purple, which was set up in 2010, specialises in providing CFO services, backed by an accounting function, and the acquisition will also give BKL access to a tailored cloud-based accounting service for clients. The CFO service provides a dedicated team, offering services such as management accounting, credit control and cashflow modelling.
The merged firms will operate from existing offices in London and Cambridge with the 14 staff and three directors from Green & Purple joining BKL. The acquisition does not affect the composition of the BKL board.
BKL had reported fee income of £15.4m for year end 2018 and was ranked 46th in the Accountancy Daily Top 75 Firms survey 2019. Green & Purple would not disclose its fee income.
Dominic Anthony, partner at BKL, said: ‘We’re very happy that our two teams have come together. After we started working with Green & Purple on mutual clients in similar sectors and geographies, we realised what a good fit we are: sharing a commitment to providing quality solutions in our chosen fields. Green & Purple believes being part of the client’s business helps deliver the biggest impact and this has always been our approach.
‘By formalising our relationship, and by continuing to pool our experience, we’ll be able to make an even greater difference to SMEs and entrepreneurs: meeting their demand for CFO expertise and helping them explore new opportunities.’
Green & Purple worked with BKL on various projects and clients before the acquisition was signed.
Pete Carter, founding director at Green & Purple, said: ‘Coming together with BKL gives Green & Purple and its clients access to a broader range of tax, compliance and technical expertise, and enables BKL to offer a real-time, bespoke and advisory-based finance function to theirs.
‘The growth opportunities arising from the combination are really exciting, and we’re looking forward to getting to meeting BKL colleagues and clients alike.’