HgCapital swoops on accountancy firm Blick Rothenberg

London-based Blick Rothenberg has been acquired by HgCapital, a private equity investment platform and will sit within HgCapital’s services sector, but will retain its name and its established approach to dealing with clients

The terms of the transaction have not been disclosed. Founded in 1945 Blick Rothenberg currently has 24 partners and over 200 staff.

HgCapital specialises in investments in services, telecoms and industrials while a separate arm invests in renewales. Companies in its portfolio include Iris Software, car leasing operators, Leasedrive and Zenith, insurance broker A-Plan, and Citation, a provider of HR and employment law, among others.

Bob Rothenberg, senior partner at Blick Rothenberg, said: ‘This is an opportunity for the firm to have an investment from a third party such that we can continue to grow and acquire both the individuals and the technology which will allow us to build on our existing team.’

HgCapital said it has followed Blick Rothenberg closely for more than three years, and the investment is in line with its sector-focused approach of investing in leading regulatory-driven businesses in and around the accounting and tax compliance space.

Matt Rourke, partner and head of the HgCapital Services team, said: ‘We are absolutely delighted to have invested in Blick Rothenberg. We have followed the business for a number of years and have always been attracted by the strength of Blick Rothenberg’s position in its market, as well as the culture and the quality of its people.’

Rothenberg said that the firm would continue to focus on its three core segments:  UK owner-managed businesses; international businesses; and private clients.  The deal was finalised after the announcement of the UK referendum vote and the move toward a ‘Brexit’ in what he described as ‘interesting times’.

Rothenberg said: ‘We anticipate, after the initial short term hiccup, that the UK will be as attractive to international companies and business as it has always been.  With every change there is always opportunity.

‘The way that we work with our clients, taking time both to understand their financial affairs and their businesses, as well as developing close relationships with them, is key to our success. Our culture in caring and guiding our team, alongside an environment where they can develop and flourish, is a major contributor to our practice and client relationships.

‘The investment by HgCapital will allow us to further build on this philosophy as well as allowing Blick Rothenberg to continue to grow together with our clients, both big and small, by meeting their increasing financial, tax and regulatory needs. I look forward to the next stage of development for our firm.’

Pat Sweet |Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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