Haines Watts, ranked at 13 in the Accountancy league table of top 75 firms, has expanded its London presence with the acquisition of Westbury Chartered Accountants based in Farringdon, Central London
The deal adds six partners and thirty-four staff with a combined London turnover of over £10m to the enlarged firm, which reported fee income of £74.5m in 2017, which would see it rise to 12th position, leapfrogging Saffery Champness, which brought in £72.9m in 2016.
Matt Perry, Haines Watts London managing partner, said: ‘Our London capability has always been an important cornerstone in our expansion plans. This deal is a culmination of five years of sustained growth, both organic and through acquisition, and cements our place in the market.
‘This deal combines two firms that have a similar culture, with practice strengths and sector expertise that are highly complementary. The extended team places us in a far stronger position to take advantage of the opportunities in the market and provide a significant alternative to the local competition.’
Keith Graham, managing partner, Westbury Accountants, said: ‘We are now able to expand our service offering for clients across various new areas including legal services, corporate finance and strategic planning as well as broadening our traditional offering with more specialists to hand in areas such as VAT and tax planning.
‘In turn, we bring an established capability in the art sector which complements the existing creative sector capability in the London office of Haines Watts.’
Report by Pat Sweet